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To: Sam Sara who wrote (81242)	3/15/2001 11:33:42 PM
From: pater tenebrarum	Respond to of 436258

you are correct, the laissez faire solution is that recommended by the Austrian school (a practical example of a successful implementation is the recession of 1921 - it was AWFUL...but the economy, left to its own devices, recovered with breath-taking speed). the problem we have in the here and now is that the excesses of the 1990's boom are really of a different order of magnitude than anything ever before seen in human history. i recommend reading the entire archive of Doug Noland's credit bulletin on prudentbear: prudentbear.com helps you to get a sense of the sheer size of it all. interestingly, no mainstream economist (with a few exceptions) seems to be cognizant of this, or even consider it in analysis. which is why not one of them was able to correctly predict the bust (i'm not even talking about the timing of it, since that was always unknowable, only the fact of the bust per se). these posts are probably indeed coming close to a temporary bottom in the stock market - but the drama is still only in act one.