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Strategies & Market Trends : Asia Forum

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To: peter michaelson who wrote (3136)	4/15/1998 9:37:00 AM
From: Worswick	Read Replies (1) of 9980

Let's see. What is the prosperity of America and the world built upon? My flagging memory seems to remember that in 1990 the "average" US household had a bank balance of $800-900. Today, the "average" American household has a credit card balance to pay off of $4,100. Hey, we're a nation of shoppers. I seem to remember this from my reading of James Dale Davidson. Is he right? Are these figures correct. If this is the case then there is a wall somewhere ahead...out there in the mists...and a time when you can't rock and roll the credit cards, and get new credit to pay off old credit. At this point the individual American Ponzi sheme will end like every Ponzi scheme. ...the American economy, remember, is 60% driven by consumer articles. As for all the happy Indians and Chinese and people from Fiji who live in America when the money runs out.... then, they will go home where they can lead happier more spiritutal lives. The only question is: Will they take us home with them and teach us the eternal verities? Will Hannah the ant lady of Intel have a room in Bangalore? Will thee sufi mysteries replace her Visa? This prosperity seems very unbalanced.

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