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

To: Mike M2 who wrote (86356)	12/8/2000 10:03:30 AM
From: BGR	Read Replies (2) \| Respond to of 132070

Mike, So, what's new in that article? It seems to just echo your thoughts. -BGR.

To: Mike M2 who wrote (86356)	12/8/2000 11:58:08 AM
From: Don Lloyd	Respond to of 132070

Mike - "...It is patently obvious, and Greenspan should know this, that any increase in paper wealth cannot translate into spending unless the assets are sold. Failing that, then increased spending must come through borrowing...." Gerry seems to be wrong here, even from an Austrian perspective. Assume the condition that an individual desires to hold a specific amount of cash, with the next possible current purchase of goods not having a large enough subjective positive marginal utility to offset the negative subjective marginal utility of the required expenditure of cash. In this case the addition of paper wealth may well substitute for part of that held cash and less cash may in fact be held. This is actually an inflationary contribution in and of itself as the individual's valuation of cash is reduced. Regards, Don

To: Mike M2 who wrote (86356)	12/8/2000 1:29:33 PM
From: yard_man	Respond to of 132070

AG has made a lot of people really rich. What's this guy's beef? Just envious cause he lives in Australia, I bet <VBG> >>In my opinion the real problem is not the stock market or falling output — it’s the Fed. <<