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Gold/Mining/Energy : Gold Price Monitor
GDXJ 128.04+0.7%Jan 16 4:00 PM EST
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To: Henry Volquardsen who wrote (13449)6/18/1998 11:19:00 PM
From: ahhaha  Read Replies (1) of 116871
 
The banks didn't cause any contraction in Texas during that period. Why would banks pursue policies that would destroy them? Why would banks undermine the communities upon which their own income depended? You're attributing an effect to the only cause you can find. This is scapegoating. The entire 20th century is testament to this sort of backward thinking. At the national level it is referred to as "just muddling along", and that is the best leadership can devise. Some leadership.

There is a profound difference between the way BA treats you as an individual and they way banks treat large customers or aggregate loans. They can't get tough with the biggies because the biggies represent future scale income. So they have to manage the situation. This is another common error. To take a small issue and blow it out of proportion in order to obfuscate the real intention or to manipulate someone into buying a specious argument. The newspapers do it all the time, but it is deadly to fool yourself with it when you have your own money riding on such assessments. The Japanese are doing it so they can go on with the neo-mercantilist charade of the superior Empire of Japan. Their industrialists never show it but they have been secretly laughing at the great American capitalists as we shoot ourselves in the foot one more time.
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