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: dvdw© who wrote (188342)	8/17/2002 10:54:05 AM
From: stan_hughes	Read Replies (1) of 436258

No, we are not the Japanese, and perhaps we will respond differently. Then again, maybe we will respond less favorably, and our experience will be even worse than theirs -- who really knows these things until after they have occurred? Certainly not me. I gather from your remarks that you believe that the US economy is just fine thank you very much, USD speculators notwithstanding, although it could stand some better data collection and measurement systems on the monetary front. Perhaps you are correct. Only time will tell definitively if we bounce back relatively unscathed, once again, or whether the size of the dislocations that remain in the current economy caused by the bubble get the best of us in the end. I can be as optimistic as the next guy if I choose to be, but FWIW I continue to worry about the system, mostly because it is still controlled by humans and human ego. History shows that even those acting in good faith sometimes make great mistakes, so big at times in fact that all the economic management techniques ever devised become ineffective. Are we living in such a time? No one can know for sure, but I'm hedging my affairs accordingly just in case.

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