Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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To: KyrosL who wrote (2356)	12/28/1999 1:54:00 AM
From: KeepItSimple	Read Replies (1) of 3543

>and the ratio of US Government debt to GDP has been falling rapidly, >now down to 35% from a high near 60%. And why do you think this is? Could it be because Alan Greenspan has been busy buying back government debt with freshly-printed money? That debt hasnt disappeared, it has simply been monetized at the fastest pace in the last 15 years. Hell, since he's already at it, why not just monetize the ENTIRE national debt? That way the national defecit would disappear. Oh, except for the little nagging fact that our bond market would be utterly and completely destroyed, with interest rates shooting to several hundred percent per month. Try asking 1945 China or the Weimar republic of Germany how successfull a tactic that is in the long run. Towards the end of the regime in China, inflation was so high that paychecks had to be cashed immediately -that hour- or else they would not even cover the cost of a bag of rice. And I'm sure you've seen the websites where one can buy billion mark notes from the former german republic, in the grips of runaway inflations..

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