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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (114729)	6/7/2000 1:46:00 AM
From: Scumbria	Read Replies (2) \| Respond to of 1571855

Ted, Human greed is causing inflation Human greed is what causes capitalism. Without the endless desire for more money or power or posessions, there would be no marketplace or trade. Or we could all go live in the mountains and meditate, and live off the hard work of others. Scumbria

To: tejek who wrote (114729)	6/7/2000 3:35:00 AM
From: Eric K.	Read Replies (2) \| Respond to of 1571855

ted-- As you should...before there was a Fed, you may remember from Amer. History in 8th grade, the US suffered from very severe booms and busts, nothing like the ones today. Of course the biggest bust, the Depression, resulted in the creation of the Feds..... I'm sorry to break this to you, but the Fed existed before the Great Depression (it was created in 1913, I believe). In fact, the Fed went on a tightening binge beginning in 1928. It also loosened rates several times very soon after the initial plummet in the stock market, to no avail, of course. Moreover, you might remember Andrew Jackson and his 1830s battle with the Bank of the US (aka: the monster). No central bank has yet been able to stop speculative excesses; whether or not any should try is an open question. -Eric