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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (44724)	1/4/2009 5:31:20 PM
From: maceng2	Read Replies (1) \| Respond to of 220587

Alan Greenspan was afraid of imposing financial discipline on Wall Street. From my admittedly superficial reading on the subject, Schacht restored some order and wasn't afraid of short term unpopularity from powerful financial interests. I can see now where an aggressive dictatorship can slip in during social turbulence. The power of money normally exceeds the power of the ballot box, and only thuggery could perhaps intervene. Thanks for your suggestion of further reading, I will certainly look out for the book.

To: Box-By-The-Riviera™ who wrote (44724)	1/5/2009 2:38:17 AM
From: Fiscally Conservative	1 Recommendation Read Replies (2) \| Respond to of 220587

Jens O Parssons in the Dying of Money: Lessons of the Great German & American Inflations (Wellspring Press, 1974, p.71) best describes the initial ignorance, early warning signs and final consequences of inflation. "Everyone loves an early inflation. The effects at the beginning of inflation are all good. There is steepened money expansion, rising government spending, increased government budget deficits, booming stock markets, and spectacular general prosperity, all in the midst of temporarily stable prices. Everyone benefits, and no one pays. That is the early part of the cycle. In the later inflation, on the other hand, the effects are all bad. The government may steadily increase the money inflation in order to stave off the latter effects, but the latter effects patiently wait. In the terminal inflation, there is faltering prosperity, tightness of money, falling stock markets, rising taxes, still larger government deficits, and still roaring money expansion, now accompanied by soaring prices and ineffectiveness of all traditional remedies. Everyone pays and no one benefits. That is the full cycle of every inflation"