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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Jeff who wrote (188)	6/29/1999 10:40:00 PM
From: kormac	Read Replies (1) \| Respond to of 309

I agree Jeff. That same fellow also said this !!!! "The same logic applies to homeowners or stockholders who borrow against their assets in order to spend. It is impossible for aggregate spending to increase because for every borrower there must be a saver. Once again, credits in the economy must equal debits. Doesn't he miss the leverage for lending created by savings?. I can't remember now what the reserve requirements for banks are (maybe somebody can provide the figure) but I believe them to be in the low single digits. Seppo