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Pastimes : The Big Picture - Economics and Investing
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To: Don S.Boller who wrote (513)12/9/1997 4:26:00 PM
From: Bonnie Bear  Read Replies (3) of 686
 
Don: the level of mortgage and credit-card debt in this country is growing at a totally unsustainable level. Look at the banks on the new highs list, you'll find all of their growth is coming from loans, including 20% interest on credit cards. Sooner or later a day of reckoning will come. The trail of tears goes like this: multinational companies cannot meet earnings, they lay off U.S. workers and hire abroad, U.S. workers go bankrupt and fall behind in payments, then the banks take a hit. It's this recessionary scenario that might cause the feds to lower interest rates. Much of this money is from Asia and will eventually go back there when the local banks are solvent again.
Some of the money will go back into the asian stock markets.
We should see both of this sometime next year, perhaps.
Gold seems like an incredible bargain, 1982 prices. wow. I don't have any money in gold stocks, I held off buying because so many have said the bottom was $280. So here we are.
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