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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (366318)1/10/2008 5:42:21 PM
From: bentway  Read Replies (1) of 1576942
 
I'd hope most of that could be avoided, but economies have cycles. I've lived through several, although not a major depression yet. Trying to avoid them just makes things worse and causes the unwinding and pain to last longer.

How'd you like to have to come up with 20% down and then still have to pay 17% interest on your mortgage, 21% on your credit cards, etc. That was Volker correcting stagflation. But, we needed it.
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