Re: Re: Tom Dickens on Monetary Policy

[Jim Devine]

Paul A
>Have a feeling the "limits of financial policy" issue is likely to be a key
>policy debate in an upcoming crunch?

it's clear that monetary policy has its limits, since Greenspan has been 
failing to slow the economy down for months now.

If the US has anything close to the Bubble Economy that Japan had more than 
a decade ago, then after the fall, monetary policy will turn out to suffer 
from ED, just as in Japan.

[For those outside the US, "ED" is the medical problem that former Senator 
Bob Dole has been the poster child for, i.e., erectile disfunction or 
impotence.]

Jim Devine [EMAIL PROTECTED] &  http://liberalarts.lmu.edu/~jdevine