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Politics : Ask Michael Burke

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To: Freedom Fighter who wrote (84627)10/30/2000 12:11:49 AM
From: Tim McCormick  Read Replies (1) of 132070
 
The free market counterbalancing mechanism to the moral hazard created by the "too big to fail doctrine" is postponed by the US dollar's hegemony of being the world reserve currency. This world reserve currency status could crumble much more quickly than even most doomsayars expect. Humpty's reassembly will prove elusive when the productivity miracle is unmasked as a mania driven capital formation cycle. A low cost of capital made us all bow down to the Japanese in the 80s, O how we forget.
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