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 (3208)	7/25/2002 11:07:26 AM
From: Jim Willie CB	Read Replies (1) of 89467

Richard Russell: higher US consumer risk than 1990 Japan "...the parallels between the USA and Japan are frightening. The US equity bubble is going to do even more damage to the consumer than the Japanese bubble bursting did to the Japanese consumer. This is because the average Japanese had a very low exposure to the stock market during the bubble and also maintained a very high savings ratio. In the US the opposite is the case, so if the market goes down the effects on the consumer will be absolutely terrible. If the property market goes down it will really be "game over" for the economy and this will prelude a very nasty bear market. When Greenspan cuts rates again and it has no effect on the economy panic will begin. This is exactly what has happened in Japan." -end-

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