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To: Efthymios H. Zacharias who wrote (21034)9/25/2000 9:47:02 AM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
well, in '29 the fundamentals had deteriorated quite a bit by the time the market finally broke. note btw. that the Fed was actively trying to rescue the beast by dropping short term rates and attempting to pump up the money supply. the story put out by the monetarists that maintains the Fed's tightness was at the root of the depression is utter nonsense. in reality the Fed's profligacy during the boom was the root cause.


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