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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: ChanceIs who wrote (122249)	7/7/2009 10:46:13 AM
From: Elroy Jetson	3 Recommendations Read Replies (1) \| Respond to of 206131

Of course Milton Friedman's and Anna Schwartz's concept of "quantitative easing" to prevent an economic depression doesn't work. Friedman and Schwartz were always wrong in this regard, regardless of how seductive their idea sounded. Just because the effective money supply declines during an economic depression doesn't mean you can stop an economic depression by greatly increasing the money supply aka "quantitative easing". The converse of a proposition is rarely true. When the Bank of England began to promote a worldwide coordinated "quantitative easing" last year, it was sad but not surprising to see the U.S. and virtually all other IMF members sign-up for this program. It will make the misery last longer, but it won't otherwise change what happens. .