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same old
Alan Greenspan decided to open the monetary sluices and capitulate to the bond vigilantes in 1994, especially after the New York banks almost went down in the Mexican peso crisis. At about the same time, Mr. Deng discovered that Mao had been drastically wrong—-that is, he realized that communist party power comes from the end of printing presses, not the barrel of a gun. Taken together these epochal shifts toward a global regime of permanent, massive monetary expansion changed the course of economic and financial history.
CNBC’s Alfred E. Neuman Luncheon Club—–Beyond Clueless | David Stockman's Contra Corner
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"The primary contribution of government to this world is to elicit, entrench, enable, and finally to codify the most destructive aspects of the human personality."
Jeffrey Tucker
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