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To: Oblomov who wrote (11069)	8/14/2000 11:58:25 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

well, such a turning inward would be congruent with a deflationary asset collapse i suppose... the opposite economic disaster, i.e. the hyperinflationary spiral usually has more outwardly expressive civil disorder and breakdown of social cohesion effect, and usually gives rise to dictatorships after a period of severe upheaval. i'm btw. a great fan of Nietzsche's rants against morals and his aphorisms... e.g. : "bad men don't have songs...how come then the Russians are singing?" -g- to come back to the interesting social/cultural differences of deflationary/inflationary economic collapses, the differences can be seen most recently in the 20's/30's period in the US vs. Germany - the former eventually ended in a benign democratic dictatorship of sorts (Roosevelt), with a nation truly turning inward at first (Smooth-Hawley act, and eventually a nation deeply reluctant to join the war), while the latter after the Weimar Republic's debauchment of the currency gave rise to the malevolent dictator Hitler, with an outward looking conquest agenda. this surprisingly different effect of deflationary vs. inflationary crisis resolutions on the social level can be observed throughout history. of course it must also be said that the historic record of secular inflations turning into secular deflations shows the degree of economic collapse to progressively lessen as history advances, i.e. while there is a cyclical behavior inherent in prices, the economic effects of experiencing extremes in price trends become less and less pronounced, as the cushion of wealth, social cohesion,etc. becomes larger with time. it is also an observable fact that the end result of every crisis, no matter how bad it got, eventually was a betterment of conditions for the ordinary citizen. so crises have their bright side too. it will be interesting to see what type of presidential candidate will appear on the scene in 2,004 - already the references to religion (from the democratic ticket to boot)are becoming suspiciously frequent. spirituality is high even on the lame duck's agenda with his constant whining for forgiveness... and we haven't even had the deflationary asset collapse cum credit crunch yet...-g- good night...