Monday, March 13, 2006

Alan G. Gets the Green

Some say very well-deserved

Congratulations to Alan Greenspan, vice-Fed Reserve Bank, on his book deal. Should be a good read, cant wait for it. Some people say the Fed overcompensated in its lowering of interest rates around the 2000 recession. I dont know, that could be a minor quibble after 18 years of historically unprecedented stable monetary policy. Greenspan's central bank influenced the world economy in almost immeasurable ways (but maybe also has allowed the unchecked expansion of central governments due to less of a constraint on fiscal policy, but that is another story. Greenspan did his job) not least of which has been, again unprecedented, mostly stable growth everywhere and the death of hyperinflation.