>Maybe they're just tired men running from capital to capital to put out fires,
>sensing defeat and getting reconciled to the worst. If you really have such a
>conspiracy theory, than as my friend Jim Hillier told me yesterday, remember
>that the 1930s did not end until 1945. A price deflation will have quite
>predictable consequences, won't it?
We have a pretty small sample on which to base projections, don't we? The deflations of the late 19th century, which were accompanied by strong real growth, were different from that of the 1930s, a time of total collapse. You don't believe in K-waves, do you Mark?
Doug