On Thu, 24 Feb 1994 [EMAIL PROTECTED] wrote:
> I am curious, Doug, as to how the low interest policies of the late 1980s and
> 90s protected the coupon clippers. Many of the real "widows and orphans" of
> rentier fame (alleged!) really have been harmed by the lowering of rates ...
Had it not been for the Fed's radical interest rate cuts, the financial
system would have likely come crashing down 30s style. The cuts resulted
in a tremendous stock & bond rally, which is only now falling apart thanks
to the reversal of 4 years of falling rates. The whining of retirees is
the last thing on the Fed's mind.
Doug
Doug Henwood [[EMAIL PROTECTED]]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)
