JMK>>
> I do not take this view. I find the explanation of the current
> business losses, of the reduction in output, and of the unemployment
> which necessarily ensues on this not in the high level of investment
> which was proceeding up to the spring of 1929, but in the subsequent
> cessation of this investment. I see no hope of a recovery except in a
> revival of the high level of investment. And I do not understand how
> universal bankruptcy can do any good or bring us nearer to
> prosperity...
************ And "who" caused the said cessation in investment; what caused the saturation of investment demand [as if it were as simple as that :-)], if more is always better?
Ian