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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (30308)	4/28/2005 5:50:21 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Monetarists like yourself naively believe that staggering debts loads are not important. As Albert Einstein said, "Fear and stupidity have always been the basis of most human actions." Monetarists point to the fact that interest rates have declined as the Monetarist banking system has created excessive amounts of credit - even in the absence of savings. Yes they say, this has devalued the currency but, since the explosion of money supply lowers interest rates, the debt service remains "manageable". Monetarists point to Japan with great pride where interest rates of near zero permit an almost infinite debt load. Monetarists point out that over the past 15 year the Japanese economy has experienced more recoveries and more "turning the corners" than any other economy in the world! A success indeed. For people like yourself who are caught up in the Monetarist Group-think, these are entirely satisfying explanations. As you have slid further into the Monetarist error, you have discovered for yourself why you need to become a well-practiced liar in order to defend the Monetarist system. I urge you to pull back before you descend into the full depths of mental illness. People not caught up in the Monetarist Group-think realize the utter insanity of your arguments. They look on with pity. .