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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: eddieww who wrote (46341)	12/11/2000 6:48:19 PM
From: robnhood	Read Replies (2) \| Respond to of 436258

Maybe the Bush family will finance the rebuilding--- Message 14985235

To: eddieww who wrote (46341)	12/11/2000 7:00:05 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

i have tried repeatedly to point out that recessions are per se not a bad thing. especially REGULAR recessions, that allow the excesses of the preceding boom to be cleared out in a relatively quick and painless manner, restoring the economy's long term health. what doesn't work are protracted, artificial booms...they can only resolve in equally protracted, and very painful downturns, as history proves. it is already too late in other words to do anything about it...the party has been too intense, and too many hare-brained schemes masquerading as businesses have seen the light of day based on the belief that it would continue indefinitely. imo if the downturn were to be allowed to play out in a sharp and swift manner, that would be best for the economy. but i bet that the authorities will try everything to stem it, thereby prolonging it unnecessarily, as is happening in Japan. a severe recession is now NEEDED to make short shrift of the malinvestment and bad debt weighing on the economy. like i said earlier, playing with dollar devaluation and inflation is extremely risky...it risks the integrity of the fiat system that uses the dollar as its reserve currency. if that 'solution' is implemented, you better have a good percentage of your assets in gold...