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Politics : Stockman Scott's Political Debate Porch
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To: thames_sider who wrote (19112)5/14/2003 2:45:50 PM
From: Jim Willie CB  Read Replies (3) of 89467
 
let's call a spade a spade -- USGovt helpless now on US$

Fed rate cuts have proved ineffective (after 12 cuts)
federal govt stimulus has proved temporary (after tax refund)

the combined Fed and USGovt are making THE WORLD'S GREATEST GAMBLE NOW
they are tempting our economy into the Japanese Liquidity Trap, hoping on hope that corporate profits are resuscitated before we end up with a dead banking system with Real Estate implosion

the USDollar vicious cycle has four distinct rings of feedback loops
they are each intertwined
they are each nasty as hell
they all will not stop in their feedback loop of destruction until a worldwide currency crisis
with the USDollar at the epicenter

ECONOMIC:
1. the slower economy with higher production costs, reduced household spending
FINANCIAL:
2. deteriorating bond conditions as foreigners diversify central bank reserves
BANKING:
3. disappearance of gold collateral behind twin tower debts (federal and trade)
ENERGY:
4. conversion of Petro-Dollars into euros, OPEC nation accumulation of gold

this is the central thesis of the next article
"A Circus of Vicious Circles"
maybe done by end of next week
having fun, getting paid nothing, but rebellion nontheless

have you noticed economists are starting to wonder what the hell is going on ???
no economic response to fiscal and monetary stimulus
no trade gap response to lower USDollar
it is clear to me that they are starting to question their thinking

/ jim
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