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Politics : Stockman Scott's Political Debate Porch
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To: lurqer who wrote (10790)12/24/2002 2:02:12 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
1980 gold rush and 2003 gold rush come from opposites

1980 came from supply cost spikes and monetary expansion panicking to respond
interest rates rose in response, as price inflation smacked us hard
2003 comes from supply excess and price plummets, followed by similar panicky monetary expansion
interest rates have initially declined, setting up a phenomenal debt failure and economic stagnation (not necessarily inflationary yet)
with debt collapse and foreign dependence, soon we will see higher interest rates, not lower

opposite ends of the economic spectrum

the effing morons costing out the Iraqi conflict have forgotten two enormous elements to the cost equation

1. expense to put out 100 Iraqi oilwell fires, associated envmtal damage, and chain reaction requiring to put out Saudi internal fires

2. damage to US Economy when crude oil hits $50 per barrel, as events converge to interrupt supply, a point I have been harping on for months

the unmentioned point is terrorism in retaliation on our US home front, which I fully expect

we in the USA cling arrogantly to the naive wholly misguided notion that we can contain a war, dictate its chaos, and benefit from the outcome
such delusion is a direct extension of the folly that hurt our nation in 2000 with a financial deception bubble bust

/ jim
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