- Starker Inflationsschub engt Spielraum der EZB ein - Sascha, 19.06.2001, 13:32
- Re: Starker Inflationsschub engt Spielraum der EZB ein - Diogenes, 19.06.2001, 13:46
- Re: Alles einsteigen! Reiseroute und Ziel werden erst später bekannt gegeben... - dottore, 19.06.2001, 14:26
- Kondratieff und Alan Greenspan - black elk, 19.06.2001, 15:02
- Re: Alles einsteigen! Reiseroute und Ziel werden erst später bekannt gegeben... - dottore, 19.06.2001, 14:26
- Re: Starker Inflationsschub engt Spielraum der EZB ein - Diogenes, 19.06.2001, 13:46
Kondratieff und Alan Greenspan
Subject: Al Greenspan and the Kondratieff Wave
Message:
Here is something interesting from the February 2000 Richebacher Letter, a financial newsletter I read.
"A friend of ours now living in London told us sometime ago of an astounding conversation he had in the early 1970s. At a lunch with Mr. Greenspan (when he ran his own economic advisory service), they discussed gold and the Kondratieff Cycles. Mr Greenspan stated that he would love to be head of the Fed when the Kontatieff Cycle was due to end in the late 1980s. He was quite sure that he could overcome the deflationary impact of the cycle by injecting sufficient credit into the system to offset deflation. He ended the conversation by saying that should he fail to achieve his objective, there was a chance that when the cycle did end, the resulting Depression would be by far the biggest the world has ever known. He did become head of the Fed. The amount of credit he has pumped into the system has been on a scale never before seen in economic history. So far he has been successful. In the end, nevertheless, his final statement will prove correct." What does it mean? It means Al Greenspan is trying to singlehandedly defeat the Saecular Cycle! He's trying to linearize History! Will Big Al be able to head off the Fourth Turning by printing Funny Money? I doubt it. The latest Federal Reserve Flow of Funds figures say that Total Aggregate Debt is now 27 trillion dollars. This is the real National Debt. It includes Federal and State Debt, foreign debt, corporate and private debt, my credit card bill, your mortgage, the kid down the street's Student Loan the whole deal. When that 27 trillion starts melting down in a debt default we'll see the greatest depression in history despite Al's best efforts.
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