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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (77467)	3/9/2000 10:15:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, thanks for letting me know I'll be sure NOT to read it ! -vbg- ho ho ho mike

To: BGR who wrote (77467)	3/10/2000 1:48:00 AM
From: Dennis O'Bell	Read Replies (2) \| Respond to of 132070

In Mark Skousen's "Economics on Trial" he cites Samuelson & Nordhuaus, "Economics" (1989) thus: "The Soviet economy is proof that, contrary to what many skeptics had earlier believed, a socialist command economy can function and even thrive" I wouldn't download from Samuelson for economic insights. Besides it's always profoundly irritated me that some point at the present situation in Russia as a failure of "capitalism". (The French are fond of this passtime.) The fact is it's just an example of what happens when the mafia runs things; in the past the same mafia ran things, it just happened to be called the Komitet Gosudarstvennoi Bezopasnosti.

To: BGR who wrote (77467)	3/10/2000 11:27:00 AM
From: Mike M2	Respond to of 132070

BGR, Ludwig von Mises was offered a high level position at Austria's Kredit Anstalt in 1928 ? (close enough) and he declined because he wanted no part of an institution that was bound to go bust. In May 1931 Kredit Anstalt went bust triggering a global wave of bank failures. BTW many US banks held securities and by this time the spreads on low grade debt had expanded dramatically decimating the market value of the low grade debt which many banks held this was one of the major factors contributing to the failures in the banking system. mike