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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (93948)1/8/2002 5:06:12 PM
From: BSGrinder  Read Replies (1) of 132070
 
Michael,
I've discovered a first-rate financial skeptic who was pointing out suspicious details about Enron in August: Peter Eavis. He writes for RealMoney. Here is a note he dropped today:

"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.
Disclosure: Short usury"

Ha! /Kit
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