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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (72443)10/28/1999 2:29:00 PM
From: Mike M2  Read Replies (1) of 86076
 
Mythman, no way-g- a tough love tidbit from the oct. Richebacher Letter "last year the US credit machine generated more than $2 trillion of new credit. for every dollar added to GDP, there was five dollars added to debt. In the late 1920's , by the way, this debt ratio was 2:1 and between 1950-80 it averaged 1.35:1 . Manifestly, this is the most rampant credit inflation in history." The Richebacher Letter 1217 St. Paul St. Baltimore, MD 21202 As Mises said " there is no means of avoiding the final collapse of a boom expansion brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later a final and tota; catastrophe of the currency system involved. " It seems that AG & co. have chosen the destruction of the dollar path. Watch da buck tough love fer da buck means tough love fer all. ho ho ho Mike
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