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Politics : Ask Michael Burke

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To: Earlie who wrote (30107)	7/22/1998 12:17:00 PM
From: Mike M2	Read Replies (1) of 132070

Earlie,I was listening to some of AG's nonsense at Humphrey Hawkins -AG remarked that the collapse in SEA was not forecastable - Dr. Richebacher saw it coming as well as other Austrian economists who understand that inflationary booms end in deflationary busts. I noticed that when AG comments on how well the economy is doing he uses qualitative statements instead of quantitative because the numbers do not support his rosy commentaries. AG also had a lame response for Rep. Joe Kennedy when he expressed concerns about how "investors" might react to a significant decline. AG said something to the effect it is not clear how investors will behave and over the past few years the dips have been met with buying. What nonsense -he knows better than that. I have the impression that Rep. Joe Kennedy is concerned about the bubble -i guess it's genetic. If i had know his concern i would have like to sent him AG's remarks about Fed policy during the 20's so Joe could ask him Why have you repeated the actions of the fed of the 20's when you once were so critical of their easy money policies. Earlie I liked your comments and I agree there will be a Grim dose tough love fer all. Mike

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