Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: stockman_scott who wrote (666)	6/25/2002 10:40:57 AM
From: Jim Willie CB	Read Replies (1) of 89467

Marsico has incorrect view of US growth and productivity the 1990 growth was largely from gold subsidizing treasurys so we mortgaged the 2000-2010 decade to get lower interest rates productivity is grossly overstated, as Gross and Roache and Jim Grant have noted hedonic stat conventions dont wash thru scrutiny either in productivity or inflation calculations the virtuous cycle of subsidizing treasurys now YIELDS to a vicious cycle of margin calls on gold which ushers in the next era of declining dollar, higher inflation, higher rates, more recession, more layoffs expect discontinuity to arrive before end of year / jim

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