Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: kormac who wrote (91500)	6/13/2001 12:11:09 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

Seppo; good post re: HARD LANDING... bank on it ~ ["The US economy risks a hard landing unless growth picks up elsewhere in the world, the Bank for International Settlements said on Monday. Imbalances in the US economy - the huge current account deficit, high private debt and low savings ratio - would have to be redressed, according to the annual report of the organisation, which is the central banks' central bank."] WOW ! ... a cold, harsh dose of REALITY ! What a change. The BIS... whodathunkit ? First: 1. High Private Debt ... "high" is an understatement and they didn't mention corporate debt & the absolute credit quality debacle that faces the bond market & commercial bankers here. 2. Low savings rate ?... correction here: a NON-F'n Existant Saving rate - ie: the US consumer has a "NEGATIVE" savings rate.... hello ? 3. Ahhh yes ~ ... the "Current Account Deficit" ... all those Fiat Dollars going overseas & Greenpimp's got the presses well oiled & working overtime firing out & printing up all the Fiat Paper he can pump out presently... The US Dollar is becoming the greatest "FRAUD" in Economic history and that is NOT an exaggeration...' 4. "Imbalances in the US Economy" - read: The Plunge Protection Team & the ESF have "stabilized" and "intervened" and as a by-product of the first two acts - quite obviously "MANIPULATED" the US equity markets to a degree that the word "imbalance" is the understatement of the decade... Tic-Toc ~ When, not if... Respect & Fear History... it's going to humble an entire market generation shortly imho... How's the song go ? ... "you can't allways get what you want.... but; you get what you need" ~ - and we "need" to be humbled by history here & that's exactly what's going to happen... being "humbled" is the cure for irrantional exhuberance. The Rubinites & Greenpimp are going down in infamy... when, not if...

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