Posted on 11/23/2004 5:07:35 PM PST by tmp02
Well, that's that then, isn't it? Ta-ta. Mr. Nowhere Man from (Old) New England. No pufters 'round here then, amen. Off ya go, then!
He's not brilliant, but he's a smart guy. Half of being a smart guy is recognizing the problem. However, predicting how that problem will manifest itself is the work of a brilliant guy...the best you can do with any of these guru types is listen to the set of problems/forces they lay out and then make up your own mind. Never bet on someone else being brilliant.
The result: U.S. consumers, who are in debt up to their eyeballs, will get pounded.
So, since I have no debt that means I'll prosper?
::: yawn :::
if a man lives long enough, he gets to see the same thing over and over.
Oh no! Not the Icescapades!
Hate to see the pinstripe bandits on Wall St go thru hard times. But again feel sorry for Joe sixpack who has 10 or so credit cards on him at all times. He's going down too.
RE: The result: U.S. consumers, who are in debt up to their eyeballs, will get pounded.
Not to be sadistic, but I actually welcome inflation. I think what we need is a slightly inflationary climate. My only debt is a small mortgage at a very low fixed rate, so inflation would shrink the remaining principle in adjusted terms. The line of work I am in is such that wages would rise with inflation since what we sell would also rise with it.
An educated guesser?
Something in a name?
Not so quick there.
You don't have to be a Wall Street guru to connect the dots.
The U.S. is spending a rapidly increasing percent of its budget on social welfare--now close to an astounding 70% of its total expenses--and its percent spent on national defense is actually less than in 1993.
With foreign military dangers increasing and the percent of total expenses spent on military/defense decreasing, we are in grave danger.
The ever increasing percent of total expenses on social programs has not reached full throttle since the boomers are just now starting to enter retirement.
Add to that the enormous cost of social welfare for 15 million illegal aliens and their soon to be 60 million offspring and financial armageddon will close in fast.
Should Iran or North Korea create an "incident" where a crash program to build a ABM system is initiated may add another trillion dollars to the debt.
Either the social welfare juggernaut has to be reversed or America will collapse from the spending cancer.
Face this fact.........the social welfare juggernaut will NOT be reversed until America collpases and becomes a third world nation under the control of a foreign power.
That's why they call economics "the dismal science." And why Truman (or was it Roosevelt?) want a one armed economist, because they were always saying, "....but on the other hand."
Crap. Just like all the rest of these nutty predictions we have heard for the past 30 years. Yeah, sell your stocks. I'll be buying when the prices go down.
Stupid.
Razor Fish will return, I swear!
The good jobs that are remaining will consistently pay lower because a lot of the workers who used to be in exported jobs have educated themselves and saturated the labor market with higher educated and workers, driving down the wages for higher end positions.
I acknowledge the fact that I could be very wrong though.....as I said I'm not an economist. This is just the way I see it from my little corner of the world.
Stephen Roach was a $2000 donor to the Kerry campaign. He is trying his hardest to make his loser RAT dream of American failing with Bush in office come true. His political agenda makes no economic sense.
It sounds as reasonable as anything else I've read and I read a lot of this stuff...
maybe. we've already seen the (short lived) renaissance of bell bottoms, wide ties...sideburns...
There have always been bearded men on sidewalks carrying placards with their warning, "the sky is falling!!!" I've listened to bears grumbling about these scenarios throughout my 40 years on the street. In the final analysis, I thank God for bears who persist in preaching doom and gloom. They keep just enough greater fools on the sidelines, thus preventing their prophecy.
No! No! It's the end of the world! Run for your lives! Build bunkers! Load the weapons!
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