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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (86155)	12/1/2000 8:59:15 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

T, I have posted this before but it has been a while R.F. Harrod, The Trade Cycle 1936 p.211 writes " ...during the boom people were spending more on consumption that they would have done, given their incomes, without the stimulus it ( the stock market boom) provided. They were led on to spend more than they would otherwise have done by a phenomenon which could not continue indefinitetly. There was a lack of balance between saving and spending, consisting of an abnormally high degree of spending...." mike