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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (37941)	6/5/2000 2:13:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 42523

don't even for a second swallow that monetarist revisionist history crap about the 1930's...the Fed lowered rates RIGHT AWAY after the BK, and continued to lower them throughout 1930. it was not the post BK Fed policies that were at the root of the depression, but the too easy policies that created the crack-up boom in the '20's. the bubble was the heart of the problem, not what happened after it burst. same is true of Japan...this is why i think people's blind trust in the Fed being able to stave off the economic consequences of a bursting bubble is quite misplaced. in a liquidity trap type contraction they can do f*ck all...