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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GST who wrote (98793)1/2/2008 8:30:37 PM
From: TommasoRead Replies (1) of 306849
 
Also, the expansion of the money supply by fractional reserve banking--and expansion that results when a series of banks extend credit--is a topic for a final exam in Economics 101. I thought that maybe by posting Anna Schwartz's (a classic monetarist's) explanation of the process I would put an end to the discussion. But it didn't work.

I wonder if we will have to go through the whole charade of price controls again when inflation heads up towards 10% a year. My own bet is that we will. Price and wage controls allow the government to give the impression for a few months that something has been done. When that fails (producers stop producing because they can't pass on their costs) there is nothing left but a Volcker-type discipline or helpless chaos and money destruction.
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