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Biotech / Medical : Ligand (LGND) Breakout!
LGND 206.01-0.4%Nov 19 3:59 PM EST

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To: bluejeans who wrote (19783)4/29/1998 12:18:00 PM
From: N  Read Replies (2) of 32384
 
OT

Blue,

There are many conjectures about the 1929 depression/crash. One of the more famous being Friedman's feeling the Fed didn't privide enough liquidity.

There is also a famous paper by Bernanke, citing a credit crunch as a major precipating factor. Only riskier, higher return projects got funded, small business and others hurt...

The concern now is are we may be in a too-easy-money fueled speculative bubble. That the Fed, in it's look ma- no hands monetary policy -- "the real FF rate is actually rising even though the nominal is the same, b/c the proxy for expected inflation has fallen" -- has possibly been too smart by half, as well as too self congratulatory.

Then again, maybe not. Nobody knows!

NH

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