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Pastimes : All Clowns Must Be Destroyed
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To: Terry Whitman who wrote (23121)4/5/2000 7:12:00 PM
From: Tommaso  Read Replies (1) of 42523
 
I have not thanked you adequately--or at all--for that extraordinary link.

Of course, what some of us have had to learn over and over again is that you cannot extrapolate current conditions using past events, but at least you can learn things in a general way. If America had looked carefully at Dienbienphu, maybe we wouldn't have ended up losing the entirety of Vietnam.

(I realize that these comments compress an awful lot of poltical and economic history.)

It is possible that what we are looking at in comparison to the crash of 1929 will comparable. Let us hope that the economic consequences are not comparable to the Great Depression. There's a difference between losing out in Vietnam and losing out at Stalingrad. So the financial consequences may go beyond 1929-1932, but maybe the fundamental economic ones won't. Maybe we can stop at 9% unemployment instead of 25% or more, while seeing declines in equities equal to what Japan saw.
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