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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject1/8/2002 3:48:53 PM
From: broadstbull  Read Replies (4) of 436258
 
Peter Eavis Debtor Nation
1/08/02 3:25 PM ET
Latest consumer credit number out, showing a white-hot 14.5% annualized increase in November. One thought: where would GDP growth be without this explosion in debt? In fact, where would GDP growth in the last 5 years have been without an unprecedented increase in leverage? Face it, America can't grow without debt. This leverage has forced up asset prices. These will eventually fall. But the debt outstanding won't. Have nothing against borrowing per se, but it has one massive draw back: it needs to be paid back. Nice work Al.
Short usury
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