Great words -- _____:: FORECAST WEB FORUM ::_____

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Main index ] [ Post a new message ] [ Search | Check update time ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 10:55:13 05/14/03 Wed
Author: sunny
Subject:

Great words

A friend of ours now living in London told us some time ago of an astounding conversation he had in the early 1970s. At a lunch with Mr. Greenspan (when he ran his own economic advisory service), they discussed gold and the Kondratieff Cycles.

Mr. Greenspan stated that he would love to be head of the Fed when the Kondratieff Cycle was due to end in the late 1980s. He was quite sure he could overcome the deflationary impact of the cycle by injecting sufficient credit into the system to offset inflation.

He ended the conversation by saying that should he fail to achieve his objective, there was a chance that when the cycle did end, " the resulting Depression would be by far the biggest the world has ever known".

[ Next Thread | Previous Thread | Next Message | Previous Message ]