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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (44080)	1/20/1999 6:23:00 PM
From: Knighty Tin	Respond to of 132070

Mike, I've been there, done that. They let you ride around in their hot cars, but then, when the repo man shows up, they ask you to give him the keys while they hide under the bed. Unless the bed repo man got there first. <G> MB

To: wlheatmoon who wrote (44080)	1/21/1999 11:03:00 AM
From: Mike M2	Respond to of 132070

Mike, this post discusses the yen carry trade and gold carry trade. Also worth noting that credit spreads remained wide after AG's 3 rate cuts ( welfare for bankers and hedge funds) crony capitalism_American style. Wide credit spreads were also a problem during the 30's.The monetarists also overlook the role of non-bank lending in the 30's and now. Yes the Fed can create liquidity but will we have lenders willing to make loans and borrowers willing and able to take loans. Japan is a modern example of this dilemma and IMO discredits the monetarists myth that we can print our way out of depression. I can assure you that there will be tough love fer all. Message 7389453 mike