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Pastimes : All Clowns Must Be Destroyed
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To: BGR who wrote (40712)6/19/2000 8:40:00 PM
From: pater tenebrarum  Read Replies (1) of 42523
 
absolutely not. imo the Fed has made an enormous mistake - the same mistake that was made in the 1920's, only by several degrees larger. in times of high productivity growth the pumping up of the money supply results in a credit and asset price bubble, and a splurge of malinvestment. if a price deflation due to productivity growth were to occur, we should happily accept it. why do you think we have to have inflation?

btw, the judgment day for the dollar - and the credit and asset bubble is coming, no doubt about it.

you can thank me later for having warned you...
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