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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (94226)1/28/2002 12:32:18 PM
From: Tommaso  Read Replies (3) of 132070
 
I've been looking for a minus-1000-point day on the Dow for three or four years. I think now maybe what we might get is a genteel bear market, in which millions of people are gently lowered into semipoverty by their "investments." Greenspan really does seem determined to go on creating money until a huge inflation of prices and wages is inevitable. That way, someone whose savings have shrunk from $500,000 to $200,000 won't even notice that in fact they have lost 80% of their money. That's what happened in the 1970s, and I guess it doesn't feel as bad as a depression would.
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