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Politics : Ask Michael Burke

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To: cardcounter who wrote (30890)	8/11/1998 10:25:00 AM
From: Mike M2	Read Replies (2) of 132070

Cardcounter, Irving Fisher was a Yale professor and one of the most respected economists of his day yet he failed to see the dangers of financial asset inflation like many contemporary economists. I'm sure you heard his quote about stocks having reached a permanent plateau just days before the crash. The only economists I know of who saw the collapse in SEA coming were of the Austrian school. I was too tired to read the Yalie's comments but there are many very educated men who have it wrong in my(humble-g-) opinion. Any boom created by the inflationary expansion of money and credit ends in a deflationary bust. Look at Japan and SEA or the U.S. mkt in the 20's. Mike

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