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Republicans are ruining America, part 3 Recession email@PublicIssue.org

Part #3

March 14, 2000

 

Alan Greenspan, Chairman

Federal Reserve System

20th St. & C St. NW

Washington, D.C. 20551

 

Dear Chairman Greenspan,   Re:   Interest rates and ENERGY PRICES

 

According to an article in the 3/14/00 issue of USA TODAY “41% call higher gas prices a “financial

hardship” (USA TODAY/CNN/Gallup poll”.  Your Federal Reserve Board has raised interest rates

1% in the past year and according to your recent comments, interest rates are going to go up another

1/4% this month.  You have added $10,$20,$30,$40 or more dollars per month on variable rate home

mortgages and rates on variable interest loans and credit cards.  As I stated before when pre-emptive

strikes are made against something that may be possible, the results are COSTLY. (To the lower

income families).  When even 30% of Americans earning over $50,000 are suffering financial hard-

ship than raising interest rates can, in my opinion, drive this nation in a recession.

 

Maybe that is the Republican plan to slow the economy into a recession during a Presidential Election

year.  I know that most bankers are Republicans and I would hate to think that party affiliation would come before the welfare of the general public.  I foresee a recession before the end of the year.

 

For arguments sake, let’s call it:

 

 THE ALAN GREENSPAN and COMPANY

YEAR 2000

RECESSION

 

As I stated before I have been in “face to face” selling for over 50 years and I have been through the

muddling around by the Republicans.

 

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