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Strategies & Market Trends : Waiting for the big Kahuna

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To: ayn rand who wrote (89228)	7/30/2009 3:14:55 PM
From: Elroy Jetson	Read Replies (1) of 94695

Central bank response around the world to the post WW-I depression created the credit bubble which caused the 1929 to 1939 economic depression. "Policy does not allow a choice between depression or no depression, but between depression now or a worse depression later. Inflation pushed far enough would undoubtedly turn depression into the sham prosperity so familiar from European postwar (WW-I) experience, and would, in the end, lead to a collapse worse than the one it was called in to remedy. For recovery is sound only if it does come of itself. For any revival which is merely due to artificial stimulus leaves part of the work of depressions undone and adds, to an undigested remnant of maladjustment, new maladjustment of its own which has to be liquidated in turn, thus threatening business with another worse crisis ahead." Harvard economist Joseph Schumpeter .

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