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Politics : Ask Michael Burke
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To: yard_man who wrote (48222)2/22/1999 11:17:00 PM
From: BGR  Read Replies (2) of 132070
 
tippet,

Corporate purchases of equities are really a tax advantaged DRIP. But I do agree that credit expansion has played a huge role in fueling the latest boom in the economy and that there is a very real risk involved there if there is leverage meltdown.

However, other than asset inflation and perceived threats to continued growth of the same, the credit expansion has largely been benign. Having grown up in a country where credit is scarce and recession is the norm, I think that those complaining about credit expansion are justified only up to a point, as they have not witnessed what deliberate credit contraction can do.

-BGR.
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