PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (520466)	1/6/2004 4:23:27 PM
From: Kenneth E. Phillipps	Read Replies (1) of 769667

Meanwhile, noted commentator Marc Faber, the Hong Kong-based "Dr Doom", has raised further concerns about the future of the US currency. "I am totally convinced that the present 'strong' recovery phase in the US economy won't last for long, as it is totally artificial," he writes in his latest newsletter. He argues that since 2001, real salaries and wages in the US have declined and the consumer boom has been created by heavy borrowing, including borrowing against equity in homes. The only way for US consumption to increase would be by further borrowing, mainly by people increasing their mortgages as property values rose. theaustralian.news.com.au

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