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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (1336)	2/25/2001 8:13:25 PM
From: Zeev Hed	Read Replies (1) of 12411

Chip, your father was right about no repeat of 1929, but I think that th main reason is the "safety net", it provides "demand of last resort". In the 30' the economy contracted in a death spiral (I think GDP contracted by 30% from its peak), that was simply due to complete drying of demand. With unemployment and social security payment providing a cushion on the demand side, such a contraction is not fathomable, IMHO. Catastrophe can still occur, but of that magnitude. Good luck out there. Zeev

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