He also showed that mistakes by the Federal Reserve were primarily responsible for the Great Depression, not capitalism.
And for a more recent example, the flooding of capital markets with liquidity prior to Y2K followed by rapid rate increases and the drawdown of liquidity gave us the debacle of the past two years. Thanks Fed! @@&**^%%@!!
52 posted on 07/31/2002 9:52:56 AM PDT by catpuppy