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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (4458)8/13/2002 4:56:48 PM
From: paul_philp  Read Replies (1) of 89467
 
Jim,

I think that one of the great things that happened is that the dotcoms were allowed to die rapidly. There was no hue and cry to save the new growth industry. They just died. Such is not always the case.

Like I said though, we see cause and effect completely reversed. I think that advances in technology created structural changes in the economy that increased the demand for money. Had the fed not met that demand we would have entered a dangerous period of deflation. You see the increase in the money supply as the fed artificially feeding a spurious growth economy and we will pay for it through inflation in the end.

It will be difficult to find a middle ground between those two positions. Let's just watching and listen.

Good luck,
Paul
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