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Politics : Ask Michael Burke
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To: epicure who wrote (84869)11/4/2000 1:41:22 PM
From: Mike M2  Read Replies (4) of 132070
 
Thanks for that revelation. -g- I dislike Gore, in part, because of his association with Clinton. One day the sheeple will figure out that "the economy stupid" was a credit fueled consumption bubble triggering a financial Ponzi scheme. Furthermore, the productivity and growth miracle derived much of its strength from the hedonic deflator and understating price inflation aided by changes in the way the price indices are calculated. The result is we have huge unsustainable imbalances in the economy- record trade & current account deficits, low to negative savings rates, a massive transfer of wealth from the retirement savings of working Americans to Wall St and company insiders- look at the dot. bomb scandal. ESF led bailouts of mexico to benefit investment banks holding Mexican debt. Federal Reserve policy guided by the notion of perpetuating the bubble at all costs with little regard for the inevitable consequences. Mike
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