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

To: BGR who wrote (77481)	3/10/2000 10:11:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, he hasn't attempted to call the top in some time but there is no doubt in the mind of any believer in Austrian economics that it must end because maintaining a bubble requires an ever increasing expansion of credit at some point balance sheets become so strained that a retrenchment is necessary. I'll paraphrase Mises he said there is no means of avoiding the collapse of a bubble induced by the inflation of money and credit - the only choice is whether it comes about sooner as the result of a voluntarily abandonment of the credit expansion or later as final and total catastrophe of the currency system. study your history and you will see that there are no exceptions. My guess is the fools in gov't will pull out all the stop to keep the bubble going through the election - will they succeed I don't know. TL & EV cannot be avoided. mike ho ho ho