Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (12210)	12/28/2001 9:06:42 AM
From: elmatador	Read Replies (2) of 74559

Booms Busts and Recoveries always repeat itself. There is only one script. Only the actors change. Even the set and locations change. The IMF has on stock all the data of the last 50+ of screw ups in lots of economies. There is no way a novel screw up, or lousy economic policy that can be devised, by any sorcerer apprentice that had not yet been tried. Like in chess. All games and strategies were tried by the best. So there is nothing very much exciting about any new game. Macroeconomic policies are in similar stage. The only thing that change is that there is a sucker born every five seconds and they grow up to be screwed blue by the guys implementing the same lousy economic policies over and over again. 1979: QUOTE Source. James, Harold 1996, International Monetary Fund sicne Bretton Woods, Washington, D.C, Oxford University Press. "Chile's course, like that of Argentina. followed from the adoption of an inappropriate exchange rate policy, in which a peg to the dollar had been used after June 1979 as an instrument of anti-inflationary policy. The consequences...severe economic downturn...overvaluation and a dramatic monetary expansion based on foreigfn borrowing... At first, Chile tried to stabilize through a managed slow depreciation... UNQUOTE Now just change the name Chile for Argentina and the year for 2001 and you have the same old story

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