Stock Market

Whew, I was a little worried about the economy and the stock market until I read John Kenneth Galbraith’s latest edict (“An Inevitable Bust, a Depressed Economy,” Commentary, Oct. 29). His predictions are very reliable. He is always wrong. One of his more memorable proclamations published in The Times a few years ago stated that the U.S. would fail in its conflict with Iraq because military technology never has an effect on the outcome of wars. He must have forgotten about World War II.

I keep wondering when the world in general and the press in particular will quit giving this oversized, over-educated, overrated man and his Keynesian-Marxist claptrap opinions any credibility.

MICHAEL S. FOSTER

Los Angeles

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* Thank you for the excellent article, “Turmoil Is Free Market Watershed” (Oct. 29), by James Flanigan. While every medium covered the subject, nowhere else did I see explanations of the root causes of the market’s instability or a clear discussion of the “big picture”!

ADAM M. KILSZEWSKI

Los Angeles