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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GraceZ who wrote (48593)1/1/2006 9:35:31 PM
From: UncleBigs  Read Replies (3) of 110194
 
They can get richer all the while carrying on a trade deficit and accumulating debts for decades as long as they continue to add to their productive stock.

Is a house productive stock? How about suv's, boats, RV's, ATV's, plasma TV's, granite countertops, toe nail painting?

America is gutting is productive capital and incurring debt on worthless consumptive items.

That kind of trade deficit will prove lethal. Greenspan may think his 1% interest rates saved the economy from deflation. I think it only accentuated the time and depth of the ultimate coming deflation.
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