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

To: BGR who wrote (77867)	3/15/2000 9:41:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, I think we should make loans with reckless abandon and create credit for speculation ! -g- so does AG! <shrug> If debt is such a panacea imagine how much better things could be if we doubled the rate of credit creation. If we create enough credit we might eliminate poverty. Why didn't Johnathan Law think of that. Mike ho ho ho

To: BGR who wrote (77867)	3/15/2000 9:53:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, if memory serves during the Great Depression $2.5 billion was lost due to bank failures and $ 85 billion in market cap evaporated. For a little perspective US GDP in 1929 was $104 billion. question what factor had more impact on the US economy? bank failures or the collapse in security values? Mike ho ho ho