Having made a career out of pretending to keep inflation under
control, will Greenspan accept blame now that inflation is once again
out of the bag ? Or will we now recognize that he did nothing to
control inflation in the past and will prove to be a total failure in
stopping it ? Will his series of interest rate hikes be seen as
precisely the WRONG thing to do to hold down inflation ? Will Bush
recognize that tax cuts plus heavy domestic spending during war, plus
rising fuel costs are causing inflation and that Greenspan has little
or no control over it, despite his pompous posturing as an economic
wizard ?
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