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To: epicure who wrote (69862)	1/12/2009 5:10:33 PM
From: koan	Respond to of 71178

You know, every week I read the best and brightest economists in the country and it has become clear to me no one knows what to do. I see the our economic situation, and stimulous package, as like our being at a fork in the road. One road we know takes us over a cliff for sure. The other road takes us into a jungle wherein we have no idea what awaits us-lol. I saw an interview with Benoit Mandelbrot on PBS, who discovered Chaos Theory and fractals in 1980 and is easily one of the best minds in the world with regard to probability. He and Taleb coauthored "The Black Swan". Anyway, when asked how bad the depression could be, he said it could be worse than anything since the Revolutionary war.

To: epicure who wrote (69862)	1/12/2009 5:11:11 PM
From: Jacques Chitte	1 Recommendation Read Replies (1) \| Respond to of 71178

Indeed. A society of misers would collapse just as quickly as a society of spendthrifts. The most prudent savers actually have mediocre credit records. Curiosity question to all - not rhetorical. In theory, if the monetary system is in deep, ah, trouble, you simply hyperinflate like Germany did in the '20s. It's a way for the central bankers to throw the table on end and yell DO-OVER!! How did thw wealthy hedge their wealth? The plutocrats of German socio-economy certainly seem to have survived the do-over. Prudent people with bank accounts will be wiped out by a hyperinflation. Where did the wealthy hedge their wealth, without crossing borders and asking, Can I be Franc with you? And where might a modern, middle-class individual hedge against the do-over economy? cheers js