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Politics : Ask Michael Burke
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To: Fred B. who wrote (59776)5/19/1999 5:38:00 PM
From: Knighty Tin  Read Replies (1) of 132070
 
Fred, Here is your simple remedial course in Greenspan economics. If you max out your credit cards, the grocer remains employed, you are probably living better, and inflation does not go up because the rest of the world is in recession and you are running a huge trade deficit with them. If you continue to get new lines of credit forever, you can live this well until you die, which can never happen in this scenario. It is a good scam. However, many of us think that some day you either run out of suckers to lend you money at low rates and the bills will have to be paid on the great Greenspan credit bubble. You obviously think America can borrow forever and run ever expanding trade deficits forever and never have to pay for living beyond its means. It is two different philosophies. Mine is realistic and yours is total fantasy. We will see which pans out.
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