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Politics : Formerly About Advanced Micro Devices
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To: Elroy who wrote (270537)1/30/2006 9:04:46 AM
From: combjelly  Read Replies (1) of 1575821
 
"Weaker than if America had never borrowed a dime? Doubtful, but anyway, what exactly is the danger, according to this author?"

Based on experience, high inflation and high unemployment(i.e. the misery index), declining competitiveness, declining value of the dollar, whole sectors of the economy dying off, whole job categories either being eliminated or having wages greatly cut, rise in the poverty rate, stock market flat to down, etc.

All of this continues until interest rates are greatly increased which causes real estate and durable goods sales to collapse. Because of the previous inflation, most people had their savings and investments wiped out and are in a very precarious economic position. And the overall US economy in a weaker position with respect to the rest of the world than before it started.

Other than that, no real danger.
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