Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Ilaine who wrote (18568)	4/30/2002 6:15:14 PM
From: Louis V. Lambrecht	Read Replies (1) of 74559

CB why still using such ancient concepts as "money" or "currency"? LOL. Did you caught this one? cbs.marketwatch.com The new coin of the realm Nobel winner Stiglitz sees greater role for credit By Thomas Kostigen, CBS.MarketWatch.com Last Update: 12:05 AM ET April 18, 2002 LOS ANGELES (CBS.MW) -- Joseph Stiglitz is convinced credit is the currency of the future. "You can be in Malaysia and someone can determine your credit worthiness instantly," says the 2001 winner of the Nobel Prize in Economics. "That's what money has become." ..... "You have a credit report," Stiglitz says. "That shows people who you are and what your purchasing power is." A credit report indicates your pattern of behavior when it comes to, essentially, trading. How good is your word? The more successful you are, the more money you make, the more purchasing power you obtain. This is all based on behavior and patterns. .... (Access to the link needs cbs MarketWatch membership, but is free). "You can be in Malaysia and someone can determine your credit worthiness instantly," says the 2001 winner of the Nobel Prize in Economics. "That's what money has become."

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