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To: Yorikke who wrote (10888)5/9/2006 1:24:25 AM
From: E. Charters  Read Replies (1) | Respond to of 78426
 
There was no magic. Double digit interest rates and high oil prices brought everything under control. What they could not bring under control was the 40 years of hidden inflation. And the inflation that continued as dollars overseas and domestically were "printed" in order to continue trade. The growth in the M1 has never been stopped.

EC<:-}



To: Yorikke who wrote (10888)5/9/2006 1:28:04 AM
From: koan  Read Replies (2) | Respond to of 78426
 
Hi Yorrike,

and remember Volker used 21% interest rates. It was impossible to sell a house for a long time as mortgage rates were in the 14%+ range.

So what would that do to the US economy and dollar inasmuch as Chine does the production and India the service industry. What happens to our GDP?

And how do we pay back all the money we owe and my social security with 20% interst rates?-lol.


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