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To: At_The_Ask who wrote (98389)4/27/2001 5:33:32 PM
From: pater tenebrarum  Read Replies (2) | Respond to of 436258
 
the tax cuts are trivial compared to the size of the economy. the money supply pumping isn't. but as i've mentioned before, the system is now used to extreme rates of growth in the monetary aggregates. as a result, the system has become prone to stresses as soon as money supply growth merely recedes a bit. there's a giant pyramid of leverage upon leverage that needs to be kept going.


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