Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Moominoid who wrote (27925)	1/27/2003 12:03:19 AM
From: Ilaine	Read Replies (1) of 74559

>>Before the second world war in the US the fluctuations were much bigger in amplitude<< OK, but is that just a coincidence or is there a causal factor? It's not silly to look for causation, IMO. You probably already know what I think it is the primary causative factor, fixed foreign exchange rates. I've posted numerous times about the fact that you can't have, at the same time, freely floating exchange rates, capital controls, and full and free ability to control domestic monetary policy. This wasn't fully appreciated decades ago, but I think it's well understood now, except by those who refuse to accept it.

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