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Politics : Stockman Scott's Political Debate Porch

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To: SOROS who wrote (9169)11/12/2002 11:03:11 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
I think Brinker is full of cowshit
he is employing standard thinking
this is not a standard bear, nor standard recession
to begin with, we suffer from widespread economic analysis 99% mental vacancy
the depth of economic understanding represents a tiny pool of water on a summer sidewalk, 1/4-inch deep
so during an economically challenging time, most make errors

open a newspaper, read about finance pages
is there any mention of debt levels???
extremely little
I said in March 2001 the keyword will be: DEBT DEBT DEBT
it is still the key watchword, 18 months later

we are taking the debt chain reaction collapse too lightly

Recession, part II begins this Christmas
by then, the USdollar-driven vicious circle kicks in
like pulling the plug on the debt-filled bathtub

80% of economists are calling for a 2003 recovery now
by then the recession will be killing jobs
while debt levels continue to rise
I expect FedGovt monetizing to keep the economy going

when the dollar heads down in leg#2, the USGovt will be reluctant to issue tons of new TBond paper, since that might upset into a rising interest rate
so they will attempt to fake out the bond market by printing money in thin air format
but the bond market has a big wide backdoor

printing $s is the purist form of monetary inflation
which leads to the purest form of price inflation
even a little CPI jump will upset the bond market

the consumer spending world is soon to drop right off the cliff
then layoffs mount and accelerate

keyword for 2003: JOBS JOBS JOBS
their vanishing act will kill the real estate bubble

Brinker is way off, employing hardfast rules
he would probably totally dismiss the Kondratieff Cycle
we are in it, and it in bigtime
the debt collapse and earnings depression is feeding on itself
soon it will trigger the vicious circle in a dollar decline
/ jim
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