Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: mishedlo who wrote (201455)	11/1/2002 1:00:59 AM
From: patron_anejo_por_favor	of 436258

<<Do you ever worry that we believe articles like this cause it is exactly what we want to hear/believe?>> No, I worry more that articles like this will turn out to be the TRVTH!<NG> The truth is that our country’s finances are a mess as a result of the 90’s credit and consumption boom. The US is borrowing $500 billion a year from overseas to finance its trade and current account deficit. It is now running annual budget deficits that are heading back up to $400 billion and may be more if we go to war. Borrowing close to $1 trillion a year is not healthy. At some point, foreigners may refuse to lend us more money to finance our trade deficit. The government may also find it difficult to finance its budget deficits without paying higher rates of interest. During this quarter the US government will have to tap the bond markets for $76 billion in capital to finance its spending plans. This is a prescription for financial calamity.

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