Re: Greenspan on 60 Minutes - I call BS
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However, with regard to to inflation and the moderating the valleys of the business cycle the Fed has demonstrated a growing ability to reduce the variance you are so worried about. Economic theory that isnt supported by empirical data is worth just about the cost of the paper and ink it took to write it down.
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Every single business cycle in history has followed an inflation of the money supply. Not empirical enough for you?
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