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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (420013)	9/25/2008 7:13:01 PM
From: TimF	Read Replies (2) of 1572561

A depression simply isn't in the cards, at least not without a lot of other new stupid government action, and not just the run of the mill stupid, but something like the actions of Hoover and FDR, and the fed at the time before and during the depression. I've talked a lot about Hoover's and FDR's policies. As for the fed "Milton Friedman: '29, from '29 to '32 or '33, the Federal Reserve permitted or forced the stock of money to go down by a third. For every $100 in existence in money--I'm now talking about bank deposits and currency in your pocket--for every $100 in existence in 1929, there were only $67 in 1933." hoover.org The bailout may reduce the severity of, or delay, a recession. If that was its only effect, I'd be a supporter. But I think it will create more problems and costs than it resolves.

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