THE MIRACLE OF THE MULTIPLIER EFFECT IN CREDIT CONTINUES...
THE DEREGULATION OF CREDIT MARKETS IS REALLY BEHIND THE CURRENT CRISIS.
JUST AS THE 1930's PRODUCED A HUGE AMOUNT OF BANKING REGULATION...SO TOO THE CURRENT CRISIS WILL RE-INSTATE MANY OF THE OLD 1930's RULES...
EVERY GENERATION HAS TO RE-LEARN THE PITFALLS THAT PAST GENERATIONS TRIED TO PREVENT... WHY? WELL, PERHAPS, YOUTH IS INHERENTLY IGNORANT...AND THAT IS THE REAL BASIS OF CYCLES...THE PERILS OF OVER-EXPANSION MUST BE RELIVED EVERY 50 YEARS OR SO...
