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To: Don Lloyd who wrote (106933)	6/6/2001 2:23:47 PM
From: yard_man	Respond to of 436258

I don't disagree with anything you said -- I was using the "market" as a euphimism for all of those indiviudal choices it total. And I meant by investments not "good" in the long run --- such as those not in keeping with what choices individuals would make with a "market-based" rate for the cost of funds and a stable monetary supply. w / respect to cycles -- I also agree that we would expect natural ones even if money were neutral -- I don't think that's inconsistent with the Austrians saying the (larger) business or economic cycle is a product of monetary policy ...