June 07, 2005
DON'T TRUST ANYONE WITH THE MONEY SUPPLY OVER THIRTY: Judd notes, perhaps too wisely, "Alan Greenspan will go to his grave terrified of inflation because he and his profession couldn't figure out how to stop it in the 1970s. The realities of the subsequent thirty years can't ever change that. Similarly, the senior economists of the 1960s gave us that inflation because they were fighting the joblessness of the 1930s. This phenomenon yields one important lesson: no Fed member should be over thirty."
Posted by Vanderleun at June 7, 2005 09:48 AM from American Digest
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