Having been present at Fed Chairman Paul Volcker's meetings with the Fed's outside consultants, I heard them tell Volcker that the administration's policy was a massive fiscal stimulus and that, in Alan Greenspan's words, "monetary policy is a
weak sister; at best it can conduct a weak rear-guard action." I saw that Volcker was not going to follow the Treasury's request to gradually reduce the growth rate of money, but in order to protect himself would throw on the brakes before any part of the phased-in tax rate reduction had gone into effect.
Phillips Curve, R.I.P.: A top Reagan economist paints a damaging picture of an economic tradeoff that continues to confound
HAS SEASPAN BECOME THE
WEAK SISTER OF NAVAL SHIPBUILDING IN CANADA?
Irving Shipbuilding's work on AOPV to bring impressive new capability for Canada's navy
As to my "
weak sister" comment, I consider the .40-65 nearly laughable from an '86.
The Winchester Model 1886: more than a century after its debut, Browning's enduring big-frame levergun still has plenty of fans
But Asia remains the
weak sister of FIFA, despite having more than half the world's population.
Iran rises in Fifa's rankings
IT'S been a long road to commercial application, but some experts believe that the perennial
weak sister of enhanced oil recovery (EOR), the cultivation of production-boosting micro-organisms in the reservoir, is starting to show some strength.
Oil firms show interest in MEOR
Seen directly up against the first two, Part III indeed looks like the
weak sister, but the problems are almost all conceptual rather than a matter of Sofia Coppola's inexperience or Al Pacino's hair.
The Godfather Collection. (DVD)
Yet, despite the price, or lack of it, this is no
weak sister.
Search: an interesting muddle
In recent years, Miller has found itself the
weak sister among the big three brewers, steadily losing share to Anheuser.
SAB seeking to buy Miller Brewing Co
Pat's expertise in selling this sort of femme-oriented thriller could generate some opening biz, but this is a
weak sister entry in the genre overall.
Subtlety is abandoned in routine thriller wrap-up
Here's their argument: If Germany becomes the ultimate backstop for EFSF funding and guarantees, and if the EFSF is forced to bail out not only Greece and the other "
weak sister" countries but also Italy, Germany's debt/GDP ratio could easily reach 240 percent (compared to just 80 percent today).
Will the eurozone become Japan?
Recent pronouncements from experts, pundits and industry observers assert that the Google Appliance is a
weak sister in the behind-the-firewall search market.
One size does not fit all with search engines
The cartridge is seen as a
weak sister for defense use.
Latest entries from Smith & Wesson. (Handguns)
"On-line services, which were a
weak sister last year, have grown in importance...
Survey: Newspaper interest in on-line services is booming