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Politics : View from the Center and Left

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To: bentway who wrote (206231)	10/29/2012 5:01:54 PM
From: Steve Lokness	Read Replies (2) of 541790

<<<<Steve seems to have his own history.>>> It is true the previous to the Depression there were booms and busts. They were regular corrections of the inefficiencies that developed in an economy. I have no problem with that analogy. The thing is the corrections were swift and led back to an ever healthier economy after the inefficiencies were flushed out. ( Those businesses that weren't very good nor healthy). The Depression was caused by overleveraging. That overleveraging was in the form of stocks - obviously! And yes ABSOLUTELY, poor regulation. I'm not sure why anyone thinks I don't believe in regulation. One of the reasons I'm disappointed in Obama is that he didn't go after those who were suppose to be regulating us. I've never come out against regulations!!!!! Oh there's a few stupid ones granted, but what person wouldn't want to change a few regulations? The same overleveraging caused the ongoing recession. I don't think there is a person in the economic field who doesn't believe this. ............The question discussed though is what to do about the overleveraging. Krugman wants to leverage more (borrow more) while pretty much the rest of the world believes and understands that more borrowing will not correct the mistakes of too much borrowing that caused the problems. Now just exactly where is my history wrong? Knee jerk insults add nothing to finding a solution - especially when they're wrong. Respectfully

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