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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Joe Btfsplk who wrote (80771)	6/28/2008 3:09:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Oyster you can probably find many references out there on Mises about the cause of the great depression. I just cannot point you to any. I can point you to quotes from Kasriel. Search my blog for "Interview with Kasriel" and read that. Also think about this logically. Would it matter right now if the Fed cut, hiked, or stood on their head? How would it? Credit expanded well beyond wages and cannot be paid back. There are malinvestments everywhere. Couple with rising unemployment and peak oil nothing could solve the mess. Some blame Smoot Hawley. And we have tariff rattling right now. It will make matters worse but it will not CAUSE the problem. Cheap money created an artificial boom. Cheap money cannot be the cure. Kasriel does kill the idea that the Fed was tight in the great depression. Mish