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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (6889)9/20/2002 4:16:21 PM
From: Jim Willie CB  Read Replies (2) of 89467
 
Krugman may be in upper tier in a lousy economist group
he dismisses the possibility of gradual decline into recession
he compares 1990 junk bond failure and real estate cycle bust with today

he misses the 1930 parallels completely
he misses how the economy has become desperately dependent upon federal tax handouts, mortgage refi's, extended credit card debt, and other temporary measures in order to avoid recession
he sounds more like a cheerleader offering hope than an analyst offering historical relations and cold statistical analysis

Puplava reminds, these same economists did not foresee the 2000 Naz bust
they did not foresee the dollar decline
they did not foresee the S&P breakdown
they dont foresee the dollar decline resumption
they dont foresee the consequent rising interest rates
they dont foresee the painful ENDLESS RECESSION

these guys are supposed to be economics experts
they are instead cheerleaders, public relations frontmen, paid deceivers, quacks, hacks, and utter whores

prepare for a massive curve ball
commodities are rising in price
imported products are rising in price
and leading inflation indicators are rising, just like in 1994
but unlike 1994, GreenFarce cannot raise rates
foreigners will soon sell USTBonds
rates are gonna rise before the jonquils break thru in search of sunshine

/ jim
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