The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: GraceZ who wrote (15848)	1/11/2004 5:20:56 PM
From: Elroy Jetson	Read Replies (2) of 306849

It's a simple magic trick to fool the naive. We have a "high rate of earnings growth" only when it's measured by a depreciating yardstick, a rapidly declining dollar. We actually have a huge decline in earnings. Milton Friedman is applauding the process like a wind-up monkey slapping his cymbals together. This is exactly the "solution" he proposed to the economic depression of the 1930's. He actually lived long enough to see it implemented. The one "advantage" of this process is that it may be able to protect the banking system from collapse. But this is only theory. Time will tell how it really turns out.

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