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``very, very, very aggressively.''

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eric lansing Posted: Mon, Oct 6 2008 8:14 AM

Former Fed Governor Lyle Gramley says that while deflation is a risk ``if we were to go into a very, very prolonged recession and nobody did anything about it,'' he is ``not worried,'' because he's confident the Fed will act ``very, very, very aggressively.''

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Oh no! Prices may fall! Amazingly, they call it a housing bubble, then when it bursts, they behave as though prices should not decline. So was it a bubble or not? Calling it a bubble implies that prices were too high. "Very, very, very aggressively" = "print, print, print aggressively". What a bunch of intellectually handicapped blowhards.

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