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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (44579)5/3/2004 2:27:20 PM
From: Jim Willie CB  Read Replies (1) of 89467
 
I really hope my biggest analytic error is that

the US Economy does not fall apart from excessive debt, huge imbalances, gigantic federal deficits, and rupture hemorrhages with trade deficits

I hope my error is that it muddles along for years and years
but with pockets of price inflation
and a gradual relaxation of housing prices

I doubt the nation's citizens will ever understand how inflation works, where it comes from, what its outcome effects are, or how to measure it

we cannot expect secular deflation to be offset and canceled by massive monetary and debt-inspired inflation
bad outcomes result

I heard a funny but great and appropriate quote recently

CAN WE SAY A MAN HAS AVERAGE BODY TEMPERATURE WHEN ONE LEG IS IMMERSED IN ICE WATER, WHILE THE OTHER LEG IS IMMERSED IN RAGING HOT WATER ???

/ jim
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