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To: Defrocked who wrote (43499)	5/27/1999 11:00:00 AM
From: Lucretius	Respond to of 86076

alright maybe not "imoploding" -g- but the Euro has gone "into the toilet" ever since its debut. as far as Japan's money supply... yea, you are correct.. that's the problme.. it has all gone overseas to east Asia, Europe and here. who do you think owns the majority of our treasuries providing us w/ easy credit???? loansdd to hedge funds and overseas specualtors do not show up in their money supply. Japan is the world's banker.... when they tighten... the world will recover. Not until then. as for learning from the past.. remember that all monetary policy mistakes are done w/ the best intentions and a feeling of being "right" when they are done. when history looks back this time... the easy policy of world central banks (Japan in particular) will be blamed for the coming debacle just as they were blamed for the depression.... Remember after the WS crash, the Fed actually loosened but encountered the pushing on the string phenom. In order for capitalism to work the "destruction" portion of creative destruction must take place. Central banks thru relentless credit have been trying to avoid this part of the equation for too long. all in my drunken opinion of course -g-