Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: PMG who wrote (57758)	1/16/2001 10:02:48 AM
From: pater tenebrarum	Read Replies (1) of 436258

if the bubble were to truly re-inflate (beyond a bear market rally that is) right from here, an incredible monster would be created. the debt mountain can not be meaningless...the debt must be paid, plus interest. and re-inflation of the bubble means further geometric growth in debt. considering it takes already $4,55 in NEW DEBT for every $1 in (overstated) GDP growth, this would set us up for what von Mises calls the 'complete destruction of the underlying currency system' (the manner in which an extended credit boom ends when the central bank doesn't stop it).

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