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Strategies & Market Trends : Coming Financial Collapse Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (280)	6/25/2001 7:48:29 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 974

i think the cornerstone of Friedman's theory, namely that it is the CB's behavior AFTER the bust has begun that determines the outcome post-bubble is simply wrong. the main mistakes have been made during the boom. in a deflationary bust the CB loses all power to influence what is happening...it's during the boom that it has that power. and, in classical disinflation boom fashion, it has repeated all the mistakes from the 20's while the boom was going strong.