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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (109189)3/1/2010 4:02:17 PM
From: skinowski3 Recommendations  Read Replies (1) of 116555
 
The only way to properly grow out of the debt burden we have is to create new wealth from productive enterprise from which to derive additional tax revenues to service/terminate that debt.

With the volume of debt - which is still growing rapidly - I'm afraid this is darn unlikely. We'll probably witness big defaults in our lifetime. Pick your poison -- both a deflationary or hyperinflationary path (or both) involve destruction of money and wealth.

I remember the 70's quite well. It really was "malaise" - equities were kaput, the Japanese were eating our lunch... things didn't feel right. USA was in a big decline. I think it was solid state computing that was the Big New Thing that got us moving and got us back in the saddle. We were world leaders.

Is it possible that something big and new may come our way? Don't know. Energy comes to mind, but that (almost) presupposes big problems with our current sources, which would be bad. Hard to tell. May happen that we are in for a longer "correction" than what people expect. Recall also that past performance does not guarantee future results. The fact that we always managed to walk out of troubled waters does not mean that this time the same must happen....
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