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Strategies & Market Trends : New US Economy Policy -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (81)	11/20/1997 5:14:00 AM
From: Arthur Tang	Read Replies (1) \| Respond to of 435

Is obsolescense and replacement, "creative destruction"? Obsolescense and replacement is offering a new change for the better. A better looking new car for the new model year. A better looking apparel for the new year. A better airconditioner with better efficiency to replace the old. A more fuel efficient boiler. It is always something better. Then how can it be "Creative destruction"? "Creative destruction" in the top-down economist's view is using high interest rate to destroy the very fabric of the economy. Everyone has to go bankrupt so that inflation can be controlled. If there is no more buyers with money then inflation can not exist. And we dared to experiment during the 1970's and the 1980's. It is like using fire to destroy a forrest so that a new forrest can come up many years later. In the mean time the lumber value was all destroyed by the fire for nothing. We could have harvested the lumber. But no one was smart enough. Some economist such aas Greenspan did not understand the difference between "obsolescense and replacement" and "creative destruction". And we placed our trust for them to formulate the federal monetary policies. Move over Greenspan, we have long since, taken over and guided this new economy to prosperity. Keep the interest rate constant at 5% at the overnight discount window. March 1998, Greenspan started the "creative destruction" process again, and we give him fair warning, now and forever.