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To: Don Lloyd who wrote (4)	3/19/2001 8:13:44 AM
From: Thomas M.	Respond to of 443

Very interesting. I would agree completely, even though I enjoy reading economic history more than economic theory. Kurt Richebacher frequently comes back to a similiar point, that econometric analysis is pointless if it is built on a foundation of unsound theory. Mises' point is something one should keep in mind when looking at K waves. It's not the timing of the K wave, like exactly 60 years or something like that. It's the sequence of events, like debt buildup and then debt deflation. Tom