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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (43107)	9/10/2002 9:06:36 PM
From: maceng2	Read Replies (1) \| Respond to of 281500

Famous economists who adhere to this theory included Hayek and Keynes Well, Keynes is a most notable authority I need to check carefully on. Thanks for the links btw. This is indeed a subject I seek to improve my knowledge on. My criticism on the death of Benjamin Strong and Milton Friedmens comment. He is probably right. If Benjamin Strong had survived another year or two the Great Depression may have been avoided. He understood clearly the role of the Federal Reserve (as does Friedman) It's just that a whole economy like the USA cannot be subject to the control of just one guy. This is what democracy is all about. It's supposed to be a team effort. A final note. Read this link, I don't know if it's true or not. I just found it so funny. A British bank official was so frightened of the commies taking over. That why Keynes won... In 1927 Norman secretly came to Strong with a problem. While he could instantly flood the underground vaults of the Bank of England by pressing a button on his desk in the event of an attempted theft, he could not stop the Bank of England's gold reserves from being whittled away by a high American dollar and interest rates. converge.org.nz -lol-

To: Ilaine who wrote (43107)	9/11/2002 6:39:43 PM
From: maceng2	Read Replies (1) \| Respond to of 281500

probably too dense and chewy for you, as it goes into great detail about US monetary history. Don't place any bets on that is my sincere recommendation.

To: Ilaine who wrote (43107)	9/11/2002 7:18:48 PM
From: maceng2	Respond to of 281500

Nobody would keep advertising for business that lost them money. When they stop making loans is when you should worry. Yep. That's called "step four". Debts liquidated. Thanks to SI Magner the Kondratieff Wave Cycle is to break the cycle into the four seasons and I think they’re very apropos. Spring being the rebirth of the economy. Summer being the period when the economy really flourishes and it’s also the time when you get the inflation. Autumn being a period when people feel good even though winter lies ahead. You still get those Indian Summer days and so on. Then Winter being the time when the economy sleeps and it’s the season when debt is flushed from the economy so that it can start refreshed in the Spring., financialsense.com I see things the way Ian does. "JIM: Ian, one more final question. Is there anything on the horizon, anything that you would see, any event that could take place, anything that could happen that would change your opinion? IAN: I’ve tried to think of that. The only thing that I can think, and I’ve said to other people, is I know that the central banks are going to fight this tooth-and-nail. They have to because it’s really what they must perceive that is the deflationary depression that lies ahead. So they’re going to do everything they can to fight it and I mean, I think one might say by fair means or foul, so that I don’t know what kind of legal means will be implemented to sort of thwart what I see happening. But, in the end I don’t see that there’s any way that the governments of the world can offset the coming deflationary depression."