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To: RLK
thanks again RLK. And I think that you've met Milton Friedman and even discussed issues with him in the company of other economics professors like yourself. We all like Milton Friedman. That's one thing we can agree on. The formal name on that bank was 'Bank Of The United States' I think. And friedman said that when it went under that was the beginning of the panic that caused a run on banks and bank bankruptcies that actually caused the 'great depression'. The stock market crash was just a trigger that wouldn't have done anything if not for this panic about bank deposits.

And I'm complimented that you read in detail my long posts. You only had small comments, that means the old college professor (RLK) didn't have much criticism of me, meaning that I did pretty good.
69 posted on 02/03/2003 10:29:33 PM PST by Red Jones
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To: Red Jones
that means the old college professor (RLK) didn't have much criticism of me, meaning that I did pretty good.

------------------

You're making good points, but that doesn't mean people want to listen to them. There are more than a few brats here. Others are blinded by crackpot ideology that they hold on to in desperation.

If you look at the economic figures for the period between 1947 and 1973 in this country, it was the greatest economic boom in history with a more than doubling of salaries adjusted for inflation and enormous new job creation--with a few small transient recessions. It was done without large amounts of foreign imports, immigration, globalism, dependence upon foreign trade, and so forth. In about 72-73 something began to happen and the economic curves show a sharp knee and a flattening at that point. As far as I can see the last 15 years have indicated exponentially deteriorating economic conditions for people at the 60th percentile and below with the condition slowly working its way upward into higher income areas. Had the 47-72 economic curve been extended, it would have resulted in median salaries twice what they are now. There are profits to be made by people brokering this deterioration. In addition there is an absurd quasi-Marxist altruistic idealism in which the economic condition of this nation is to be sacrificed to bring this nation in a condition of economic equality with the rest of the world. It's been sold for years at Ivy League universities. It's taken hold. It's not a view I share.

72 posted on 02/03/2003 11:02:02 PM PST by RLK
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To: Red Jones
Let me add, you can not ship entire major industries out of this country and expect the people you put out of work to be able to afford your goods and services. Neither can the people you are paying 25 cens an hour to afford your goods and services. This country is being destroyed.
73 posted on 02/03/2003 11:08:32 PM PST by RLK
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