Re: Absent Wealth and Employment

[wfhummel@xxxxxxxxxxxxxx (William F. Hummel)]

On Sat, 11 Oct 1997 John Gelles wrote:

>	These two questions -- why waste genius on government
>	bond price forecasting when government bonds are a
>	mistake to begin with -- and why make interest rates a
>	game within the necessary game of national rivalries when
>	the latter game is already as complex as a game can be,
>	-- these two questions, answered by wrong turns in
>	history, are at the bottom of  missing wealth and
>	employment.
------------
If government bonds are a mistake and interest rates are a game,
and both are at the bottom of missing wealth and employment, then
these two questions are serious indeed.  Further, we can conclude
that if the implied relationships are known to be fact and not
conjecture, then someone must already understand the big picture
and know the answers.  In that case it remains only to find that
someone and to persuade him to lay out a convincing case and
rally the troops.

William F. Hummel