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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: energyplay who wrote (34833)6/11/2003 2:05:22 AM
From: smolejv@gmx.net  Read Replies (2) of 74559
 
re >>Future obligations of US Fed GOVT<< - ignoring for the moment the (relative) size of different positions in the equation, it's interesting to note, that for instance Germany is facing a similar if not the same set of problems:

aging population
inability to meet past obligations - pensions, medical & social care
lack of work

It's also interesting to note the discrepancy between how FED and ECB are being treated: either it's PTC - Praise The Chairman - MQ-style and "ECB is sleeping on their watch" or iit's "Greenspan screwed up royally" and "ECB is sleeping on their watch".

OK, DJ, can you get to the point?

First, there's serious (or at least loud) discussions in Germany going on about the legal work needed to clean up the mess. The Bundestag will take no summer leave the last I heard. Anything like it in US? No, as far as I can tell.

And second, with Sir Greenspan standing in for Achilles and EZB doing the Turtle, the real GDP growth 2001-1Q 2003 was around 1.5% in US and "only" 1.12% in Europe, which brings the difference in a noise-zone. If that's not enough, the official deflators for Euro zone (2002) were 2.3% and 1.6% for US. Here's to the resilience and dynamics of the Big Bro's economy.

So final third point, this all is nothing in view of the dollar flood that's filling up our common economical bath tub - and I dont think it's champagne, even if it prickles our private parts.

RegZ

dj
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