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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (2738)11/29/2003 3:05:51 PM
From: philv  Read Replies (1) of 110194
 
Over the years, the strength of the "system" and the ability to pull rabbits out of the hat have amazed me, and have proven the hundreds of doomsday profits entirely wrong. On many occasions in the past, just when it appeared a breakdown of the system is imminent, a reversal of fortunes occur, and the economic system continues to prosper.

I have grown to respect the ability of this economic system to perpetuate itself, and am wary of predictions of disaster. However, as one extends the trends, looks long term, you can't escape the conclusion that this can't go on forever. So, I have extended my horizons outward even longer term over the years but ever cognizant of the powerful world wide forces working to maintain the status quo.

This economic system is the most powerful entity in the world, and abhors change. Vested interests in its maintenance is universal. A US economic collapse would reverberate throughout the world and bring down all economies. Powerful vested interests won't allow that. They will throw everything including the kitchen sink at anything that threatens its survival. Adjustments to monetary policies will therefore be small and gradual to protect those vested interests and prevent a collapse.

The fiscal and monetary problems discussed here are real and growing, and are no doubt debated in powerful circles world-wide. The problem of the growing mountain of debt and subsequent bubbles will probably continue far longer than anyone here expects simply because there are no easy solutions.

Thanks to all the posters on this great thread.
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