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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: LLCF who wrote (41151)11/27/2000 6:15:59 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
they said the same thing about the early 30's Fed, and it's the same hog-wash. they're all overlooking that it was the preceding boom that laid the groundwork for the respective depressions, and the too easy monetary policy during the boom. once liquidity trap mechanics appear, no amount of easing can change the situation (contrary to folk-lore, both the Fed in the '30's, as well as the BoJ in the '90's, in fact eased at the first hint of trouble in the air).
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