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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: UncleBigs who wrote (58245)	4/15/2006 9:50:05 AM
From: Tommaso	Read Replies (3) \| Respond to of 110194

>>>I view an economic depression entirely differently. An economic depression right now would be healthy for American and the world in the long run. We can make the necessary adjustments that eliminates debt and speculation induced consumption toward a sustainable model of production and savings. Speculation financed by easy money produces a moral decay that will ruin our country if it is not stopped very soon.<<< It was precisely that vengeful attitude on the part of government officials, especially the secretary of the treasury at the time, that in fact brought on the Great Depression. There is nothing "healthy" about 25% unemployment. It's a greater waste to have unused human resources--which must be fed, clothed, and housed just to stay alive--than any other possible economic waste. The processes that led to the present excesses of debt and speculation need to be reversed, and U. S. citizens must start to save and economize. But the idea of a depression as a great moral cure-all ought not to be enetrtained by anyone.