Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (25061)	10/7/1998 11:35:00 PM
From: Gottfried	Respond to of 70976

Jerome/all, NEW YORK (CNNfn) - Former Federal Reserve governor Wayne Angell said Wednesday he believes the U.S. central bank will reinflate the economy to stave off recession.[snip] cnnfn.com GM Jerome, thank you for your perspective on the Great Depression.

To: Jerome who wrote (25061)	10/7/1998 11:51:00 PM
From: Big Bucks	Read Replies (1) \| Respond to of 70976

Jerome, Excellent analysis of the "causes" of the depression. According to the post from GM we have many of the same elements in place right now. The things that are different now is a "vested" common interest in mutual economic survival, direct dialog/communication between countries/economies, understanding of global economic impact/interaction between trading partners, rapid trade/product mobility into global markets, etc. Many of these circumstances were not present during the time of the great depression. At that time economic impact/circumstance was unmanagable due to variables that weren't expected or controllable. It was purely a reactionary event to unanticipated/uncontrolled circumstances. We can draw on the lesson of the historical mistakes and prevent them if we act decisively and not let them get out of control. Sometimes just slowing down is all that is necessary to prevent an accident. It doesn't mean that we quit driving if we have a close call, it just demands more attention and tighter better managed control. Just my opinion, BB