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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (15267)	2/20/2002 4:36:22 PM
From: Ilaine	Read Replies (1) \| Respond to of 74559

Funny joke, but non sequitur. Menger says there is no such thing as a liquidity trap, nor did Keynes ever say there was. Keynes was speaking hypothetically. Menger also says that Japan needs to expand its money supply. I don't know whether he's right but others have said it (Kruger for one). BTW, Keynes predicted in 1925 that if Great Britain went back on gold at pre-war parity, it would cause a bad recession in Great Britain. He was right but no one listened to him. Afterwards, when he told central banks to expand the money supply, they listened to him. Don Lloyd posted on Book Nook that von Mises also predicted that going back on gold at pre-war parity would cause recession, too.