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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (17585)9/12/2000 11:31:46 AM
From: pater tenebrarum  Read Replies (1) of 436258
 
that's simple - the trends supporting the bubble economy have persisted for such a long time that nobody wants to believe they may be ending.

in addition to that, the government's statisticians do their best to keep up the mirage in the run-up to the election, which in turn leads to a series of totally wrong policy decisions, both by the Fed (too lax) and businessmen (investing in overcapacities, mostly on credit).

once the expansion of the credit bubble meets with its natural limit, things will reverse very fast. that is what most people refuse to acknowledge - the reversal of a credit bubble based overheated economy is an extremely rapid affair. it will be like a strike of lightning...
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