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

To: Tommaso who wrote (60445)5/24/1999 10:16:00 AM
From: Knighty Tin  Read Replies (2) | Respond to of 132070
 
T, Yeah, the govt. can print money, but if the banks don't lend it out at many times the size of deposits, it doesn't have much impact. So, you need to have banks, which may be shell-shocked, willing to lend the money and finding credits they can live with. Then you need borrowers willing to take on even more debt when they don't need more capacity and when their eps are being smashed by current debt loads.



To: Tommaso who wrote (60445)5/25/1999 12:20:00 AM
From: JF Quinnelly  Read Replies (1) | Respond to of 132070
 
I'm not surprised you were quoting Friedman, the Burker's being such an erudite crowd. I had that one book of his handy, it's got an excellent chapter "The Great Contraction" detailing the events of the 30's from a monetary point of view.


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