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: pater tenebrarum who wrote (101449)	5/11/2001 10:52:35 AM
From: Dr. Jeff	Read Replies (3) of 436258

I assume you read Bubbleboys speech: federalreserve.gov The man is downright frightening! <<<In conclusion, let me state the obvious. The purpose of banking, finance, and intermediation is to facilitate the production and trade of goods and services. Standards of living rise when the cash flows from obsolescent, low-productivity capital are employed to finance newer, cutting-edge, technologies--the process that Joseph Schumpeter many decades ago labeled "creative destruction." >>> Something about him uttering "creative destruction" made me realize what he has done with his profligate monetary policy would more aptly be called "DESTRUCTIVE CREATION" !!!!

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