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Politics : Stockman Scott's Political Debate Porch
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To: lurqer who wrote (13637)2/27/2003 1:11:00 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
Sennholz conclusion:

"We now face a situation that resembles the late 1970s when the world began to abandon the dollar and liquidate American investments. It took two years of Federal Reserve inactivity and 20 percent interest rates to restore foreign confidence and lure foreigner investors and creditors back. Today, the Fed is doing the opposite; it is making every effort to stimulate the economy by flooding the money market while the U.S. Treasury is accelerating its deficit spending. Both point towards monetary upheavals and deep global recession straight ahead, and both cast a shadow on the future of the floating dollar standard."

so we can expect some things ultimately (maybe not quickly)
1. death of the dollar
2. meteoric rise in gold
3. sluggish economies
4. disappearance of corporate earnings
5. disappearance of consumer purchasing power
6. gradual transition to INFLATIONARY RECESSION (or worse)

/ jim
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