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Politics : Ask Michael Burke
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To: Bill Cotter who wrote (94508)2/15/2002 4:43:11 PM
From: Tommaso  Read Replies (2) of 132070
 
It does look as if one little twitch and JPM could simply vanish.

It might have already happened if the Fed had not kept adding money at accelerating rates for the last few months.

What concerns me is whether the Fall of the House of Morgan, and everything that comes down with it, could conceivably mean that I wouldn't be able to collect for having bet that such a catastrophe could occur. I mean, someone is supposed to pay up if my calls on gold and my puts on the indexes become extremely profitable. I don't want to be the winner in a poker game where all the cash gets seized by the police.

I suspect that the way out is good old inflation. Cut the real value of the dollar an average of about eight percent a year for five years and the public's general perception will simply be that prices are rising. Even a 1% per month CPI change does not cause instant hardship and allows time to make adjustments.
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