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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (4304)8/10/2002 6:37:29 PM
From: SGJ  Read Replies (1) of 89467
 
<<<<foreigners are far more willing to finance our ways than they are with SA
that is all, but it be a changing>>>

Maybe...but in the land of the blind, the one eyed man is king.

Foreigners holding dollars and $ denominated is what I believe may continue to support us. Rates may even be cut some more. The world is looking at the USD and USA consumer economy right now the same as investors looked at the first dip in the post 5000 Nasdaq. They just know it will come back. There is some global denial going on. The facts are there though, the USA consumers (by the way I hate that term, are we not men with hearts and minds?)are tapped out. Mortgaged to the hilt, as my father used to say. No wage increases, no investment returns, the only source of extra cash is mortgage refi (ie. go further into debt).
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