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

To: Dan3 who wrote (91034)	10/1/2007 4:59:19 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

These crackpot ideas of constraining M3 through monetary policy all lead to disaster. Essentially this is a call for a centrally planned Soviet-style economy where the credit cycles of capitalism have been "tamed". It doesn't work. A stable money supply provides the basis for capitalism. Credit cycles continue to occur, in spite of the stable money supply. In contrast Monetarists of every stripe prefer to fiddle with the money supply using their preferred method and preferred rate of debasement. Each a different flavor of economic irresponsibility. Irresponsibility is indeed a tasty delight - but it leaves a bitter after-taste. .