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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Mark Fowler who wrote (7700)	6/20/2001 6:05:03 PM
From: 16yearcycle	Read Replies (3) \| Respond to of 57684

"Index of leading indicators rose 0.5% in May -- first back to back rise in 17 months." I have been reading a book about Keynes. It was his opinion that the 29 crash and subsequent collapse was mainly caused by the fed raising rates all through 28 and 29 in the face of collapsing commodity prices.It was thought that the fed started to act against the stock market as early as 27, and they felt they could get away with it due to the massive increase in productivity which occurred in the early and mid 20's. Keynes did not blame the depression on the fed's slow response afterwards, but "the 2 year period leading up to the crash where they acted in a deflationary manner, causing money to be dear at a time when prices throughout the world were dropping." Amazing, huh? this fed has made the exact same mistake as it did 72 years ago.