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Politics : Ask Michael Burke

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To: Cogito who wrote (87094)	12/17/2000 3:22:28 PM
From: Joan Osland Graffius	Read Replies (1) of 132070

Allen, >> real economic expansion It is my opinion that the last 10 years has been a credit expansion and not a "real economic expansion". I believe history has shown that credit expansions like the one we have observed will end badly for those that paid high prices for their assets. The debt has to be paid, either by the debtor, the institution that made the loan, or the tax payer. IMO, it will not go away without some pain. Joan

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