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Politics : Stockman Scott's Political Debate Porch
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To: SGJ who wrote (4299)8/10/2002 12:55:10 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
dont be making fun of my careful metaphors <g>

a bucket of water on a bonfire,
as far as fixing the problem

a bucket of gasoline on a bonfire,
as far as publicizing the urgency of the problem, which is likely to push the Brazilian wealthy into taking money out exactly when they and their cozy politico friends attempt to soothe frayed public nerves

Trez ONeill is an effing turkey
while I agree with his comment about funneling money to Swiss banks, he must be impaled in SaoPaolo square for saying it publicly
the result was a quick 10% devaluation of the Real
that translates to a $30B increase in their debt
and resulted in the bailout being $30B, not $20B
which was the amount discussed only two weeks ago

I stick with my call
it would take well over $30B per quarter to calm things down
probably more like $50B/qtr

the dollarized nature of their debts will kill them

this will spread worse than Asia in 1997
and let's not forget...
South America is considered THE WARD OF THE USA
I believe SudAmerica will come close to killing the entire US banking system
just give it time
this entire continent is going bankrupt on sovereign debt
but is the USA much different?

I read a nasty commentary a couple weeks ago about SudAmer
they like the good life, just like US citizens
they feel it a right to spend beyond their means, like US
they regard our constant infusions of funds as "their right"
they dont largely invest it
they instead spend it and steal it
in this respect, we are no more, more less corrupt

the US masses are unaware that the USA image is fast becoming a nation of technology, warfare, and theft
/ jim
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