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Politics : Ask Michael Burke

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To: ild who wrote (95100)	3/17/2002 1:51:36 PM
From: Joan Osland Graffius	Read Replies (1) of 132070

ild, >>Where did all that money go? US corporations have had an insatiable appetite for adding debt to their balance sheets. The consumer also has been absorbing debt through their credit cards and the housing market. Then there is the good old US government that has been borrowing to the point where they have to raise the debt ceiling this month or next. We have had a fair amount of destruction of capital with the likes of Enron, global crossing and dot com's. The data shows the bankruptcy courts are busy these days with both individuals and corporations. Some of this money seems to have found it's way into our stock market, and gets destroyed on occasion. Am thinking about the sell off in early 2000 and again in 2001. Greenspan looks like a wimp when Japan is increasing their money supply by 27%. Wonder what happens when the destruction of capital exceeds the printing presses. <ggg> Joan

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