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To: Tim McCormick who wrote (22589)	5/25/2000 12:12:00 PM
From: GraceZ	Read Replies (1) \| Respond to of 29970

Did the deflationary condition persist or imperil government authority? Depends on your definition of persist. The Great Depression was an extremely traumatic event in US history and some that lived through it would say it was fairly persistent and did imperil government authority. Some people lost 90% of the value in their homes which they did not recover for almost thirty years. I'd say that was persistent in human lifetime terms.....now if we are talking geological time, that's another story. Obviously if you step back and look at monetary conditions from the inception of the Union, then of course you have inflation....in the long run. But then as you know, in the long run we are all dead.