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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (4143)8/8/2002 11:11:02 AM
From: Jim Willie CB  Read Replies (5) of 89467
 
real problem financial, not political: STRONG US$ POLICY

this strategy cooked up by Rubin, endorsed by Clinton
and carried out with Greenspam's help is the problem

it exported mfg offshore
it attracted capital to finance exploding debt
it built a stock bubble
it required depletion of national gold reserves
it allowed escalation of federal deficits
it made US corporations un-competitive
and worst of all... IT INVITED A CORRECTION
which will result in a broken banking system
a declining dollar
rising interest rates
bankruptcies left & right
and a Round Robin of Moving Bubbles, each to be broken

dont kid yourself about federal surpluses
one might have occurred late in the decade, but that involved absconding the SocSec Funds

Clinton, Rubin, Greenspam will all have pictures next to Herbert Hoover in the annals of history

all this political nonsensical fighting detracts from recognizing and fixing the financial problem

CUT IT OUT, GUYS
both Dems and GOP are responsible for overspending and poor foundations to the dollar
both Dems and GOP are responsible for continuing the Strong Dollar policy

wake up to the reality that the USA is in danger of a national disaster economically, the likes of which could surpass 1930-32
/ jim
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