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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (19478)10/31/2003 8:42:39 AM
From: philv  Read Replies (3) of 81900
 
Searle, I was thinking about you when this astonishing result was announced, because, as you had predicted (you must be clairvoyant), Bush immediately declared victory.

The term Gross Domestic Product implies that something is actually produced, but as you know nothing at all needs to be produced to goose up the GDP.

But even as the markets celebrated, there is an underlying unease that something is wrong with this figure, that it won't be supported by other indicators such as business spending and job creation. However, they are now claiming the US has entered into a kind of super productivity environment, which will ultimately bring back jobs because no other nation can achieve this miracle. Only in America.

Have you heard the term "figures don't lie, but liars figure"? Could this apply this time?

I guess some of that mountain of money and debt is bound to stimulate not only foreign production, but some might even circulate at home. New home construction and auto industry are the two main big ticket items which continue to benefit from the low interest rates. Some people have likened this constant ongoing money injection to a patient on a heroine I.V. drip. What happens when you take away the heroine?

I think I will keep my Basket of Unhedged Goldshares for a while longer. g
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