Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Seeker of Truth who wrote (54216)	10/14/2004 2:01:50 AM
From: Taikun	Read Replies (2) of 74559

<It's not an idiot's fault that today means so much more than tomorrow.> You are so right, Malcolm. The leaders of this country and other countries thrive on American consumption. I cannot understand why Greenspan accepted another term. Does he think he will survive this mess? If American's are addicted to cheap credit, he's not a small-time dealer but the biggest pusher in the country. If it were crack he'd have no compunction about selling to elementary school kids. I predict the lynch mobs will get to him before he finishes his term I also see the FCC under Micheal Powell (Colin's brother) is pushing American's to buy Digital TVs. So now the gov't is selling these overpriced boxes that few can afford. The problem is, there are a lot of countries selling to the US (China, Japan) that live off the avails of cheap credit to US consumers and they cannot continue (so far) with impunity. For lack of wanting to stimulate their own consumer they too will pay the price when the consumer finally checks in to rehab. Between predatory lending and 0%APR on a new Japanese car they're all guilty. Americans will rediscover saving eventually.

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