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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (2368)	6/10/2003 8:42:46 PM
From: LLCF	Read Replies (1) \| Respond to of 4907

< I do know that their boom and bust story is a classic example of the 'Austrian view'.> ie. the 80's boom was artificial caused by expansionary policy... many missed the boat because of the price stability at that time, even though most experts new something was wrong and examples of the bubble were all over the major media. Once the bust happened, the Austrians would say let it happen and clean everything out... everyone else said pump like nuts. To me it is obvious who was right, the pumping did no good, as Austrian theory would predict, and simply extended all the problems... by proping up asset prices instead of washing them out. dAK