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To: BGR who wrote (67655)	10/10/1999 5:57:00 PM
From: pater tenebrarum	Read Replies (3) of 86076

BRG, this is not true...the Fed lowered rates drastically following the '29 crash. but it was pushing on a string, similar to the BoJ in the early '90's. the money stock shrunk anyway, as lenders refused to lend and debtors were mainly occupied with the reduction of the massive debt pile accumulated during the bubble years. October '98 is imo a classical example of inflating a bubble further instead of allowing excesses to be wrung out from the system. the system is the worse for it. i urgently recommend everybody read the following commentary from the Ludwig von Mises institute: mises.org hb

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