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To: Ilaine who wrote (113671)	7/20/2001 11:03:39 AM
From: Mike M2	Respond to of 436258

CB, you need to understand that credit can come from bank and non bank sources and the fact that credit from non bank sources is not captured in the monetary aggregates. Nonbank credit does not increase the money supply but it does increase velocity so the effect on asset prices is essentially the same . This is especially critical in the current bubble since the greater part of credit has come from non bank sources. During the 20s Anderson understood that the 20s was a credit bubble and not a new era. His views are well documented in his writings for Chase Bank. mike

To: Ilaine who wrote (113671)	7/20/2001 12:49:24 PM
From: pater tenebrarum	Respond to of 436258

i'll speak to Richebacher and sort it out...

To: Ilaine who wrote (113671)	7/24/2001 7:07:51 AM
From: Don Lloyd	Respond to of 436258

CB - These might be of interest - focus.aps.org aip.org Regards, Don

To: Ilaine who wrote (113671)	7/28/2001 6:29:50 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 436258

CB - FWIW - worldnetdaily.com "5 State Energy Advisors Fired Over Conflicts Ethics: The consultants were involved in buying electricity for California from a generator whose stock they owned, setting up a clash of official duties, personal interests. By JEFFREY L. RABIN,DARYL KELLEY and RICH CONNELL, Times Staff Writers The Davis administration, stung by charges of excessive secrecy, disclosed late Friday that it has fired five energy consultants because of conflicts of interest involving their official duties and personal finances. ..." "...State law prohibits officials from participating in decisions involving their personal financial interests. Although portraying himself as seriously concerned that such conflicts could undermine public confidence, the governor has not required some of his most influential private-sector advisors to file the kind of disclosure statements that led to the firings. Among them are two Wall Street veterans who have been most influential in promoting the governor's energy rescue plan, which includes the largest state bond sale in U.S. history...." Regards, Don