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Non-Tech : Mama Bear goes long!
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To: Mama Bear who wrote (63)8/9/1998 12:47:00 PM
From: Bonnie Bear  Read Replies (1) of 131
 
Barb: I don't trust the numbers either. The numbers on employment, housing starts and CPI are engineered by Rubin to get the desired numbers needed to justify lowering interest rates. Now this could be because they saw global recession coming a long time ago and were doing what they could to engineer a soft landing, but I find it incredibly distressing that all we get are "adjusted" numbers.
The feds are clearly using the tax revenue from the bloated stock market as a get-well plan to balance the budget. I'm concerned that the deficit will vanish in a puff of 1980-style hyperinflation.
I don't know about the savings numbers- the average person is spending more than they make, they are net debtors. And there is a huge and growing gap between the rich and poor. Fed numbers say that the average person spends $270 a month on rent and utilities, $150 on food. Hmmm... They have downscaled the definition of poverty to meet their objective. The poor see the scam, they will buy no-money-down houses and fill it with stuff purchased on credit cards, and then file for bankruptcy. Free money. The big banks bundle up all their mounting pile of credit-card debts and write them off or sell them during every merger. No problemo. What a country!
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