Greenspan's ODD "stair-stepping" rate hikes simply MUST continue indefinitely now...
What is really needed to stop the various "bubbles" is one nice totally UNEXPECTED rate hike of 50BP... That would focus Wall Street attention!
But, do you think they're smart enough to see that? Of course not.
A 50 BP hike would PUT FEAR OF THE FED back into the markets... And, in the end, rates could actually stay lower for longer!
At the rate the Greenspan FED is going now...FED Funds will have to go to 7% before The Street even starts to notice... The Greenspan FED has been slavishly cow-towing to Wall Street for so long that NO ONE has any fear of the FED left.
Bernanke should take notice, and avoid Greenspan's BIG MISTAKE!
