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

To: bart13 who wrote (71846)	10/13/2006 12:01:16 PM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

'M-3 Y/Y rate of growth peaked in about 1925 and generally downtrended until it bottomed in 1932-33. It broke through zero in early 1930. We could discuss for months things like "entirely due to the failure of small non-money center banks", but it would be virtually pointless. I do not attribute the cause anywhere near entirely to that failure however.' Wasn't the biggest problem in 1930-32 tax increases and no fiscal or monetary stimulus when it was most needed? In their infinite wisdom our leaders were concerned about balancing the budget. We are at a complete opposite extremes today making any depression comparison a mute point IMHO..