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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: sylvester80 who wrote (96512)7/20/2002 1:12:38 PM
From: stockman_scott  Read Replies (1) of 99280
 
Debt Valley by Jim Puplava

financialsense.com

<<...In summary, the largest credit bubble in history created the boom of the 90’s. The American economy rests on a pyramid of debt: debt at the consumer level, debt on corporate balance sheets, government debt, and enormous leverage in the financial markets. The economy and the financial markets are kept alive by a constant infusion of new credit. Stop the flow of credit and the whole system implodes. It is an economic and financial system in badly need of a diet and self-discipline. Until the system is cleansed of all of these credit excesses, there will be no sustainable economic recovery either in the economy or in the stock market. In the words of Peter Warburton, we live in a world of debt and delusion...>>
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