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Politics : Ask Michael Burke
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To: Mike M2 who wrote (24838)12/3/1997 2:40:00 PM
From: Joss  Read Replies (1) of 132070
 
Hi Mike,

I think you have made two excellent points:

One historical fact people seem to overlook is that during the 20's the world economies and stock markets fell one by one they did not plunge simultaniously

Not only did the markets fall at different times, the duration and severity of the depressions varied greatly, now that you have made me think of it.

One other note is the currency devaluations may have the same effect as trade barriers did in the 30's.

While I think this second point to be a good one, the barrier is not as solid because each country can make moves to reestablish equilibrium if the pain is great enough. Of course, then there can be subsequent moves...

Thanks, I am going to relook at the entire situation in this light.

Regards,

Steve
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