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 (8783)	11/4/2002 4:41:49 PM
From: Jim Willie CB	Read Replies (2) of 89467

earnings will be kept from further erosion by layoffs which will undermine consumer spending which will undermine housing demand and prices which will undermine equity extraction REFI's which will undermine consumer spending further which will undermine earnings which will undermine labor further which will lead to yet lower interest rates which beget lower rates a big fallacy has been widely accepted lower rates reduce consumer spending, NOT INCREASE IT twice as much interest income is received, as compared to mortgage interest paid out lower rates mean consumers have less money to spend, not more this policy appeals to the debt-ridden debt-suffocated crowd in 2001 we saw $1100B interest income, $600B interest paid LOWER INTEREST RATES BEGET YET LOWER INTEREST RATES !!! bankrupt idiotic economic policy will kill this economy just like Japan policy is driven by patheticly poor comprehension of economic principles starting at the top, the Federal Reserve recently GreenScheiss claimed that strength in productivity will enable the economy to recover which means he fails to learn from the 1997-2001 lesson higher productivity has resulted in lower prices paid NOT greater profitability GreenMonkey fails once more, even after lessons pointed out put together the failure on rate downward momentum and renewed layoffs, and you have a prescription for a deep recession upcoming the key is the effect on housing prices delinquency and default will keep the REFI fully bound / jim

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