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Politics : Ask Michael Burke
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To: Stefan who wrote (61430)6/4/1999 4:13:00 PM
From: Freedom Fighter  Read Replies (1) of 132070
 
Stefan,

>>Todays market action looks like we'll have a half point rate cut at the end of June. And the bubble goes on....bubbles thousands of bubbles.......>>

That's not a bad prediction. When the next phase of the credit crunch shows up, it will be because there's not enough savings and new money available to expand credit fast enough to keep the bubble going. At that point the Fed will try to inflate again, just as it bought some time last year when the bubble almost burst. This process will continue until the Fed runs out of bullets or there are no more willing borrowers left because everyone has figured out we are the fast track to disaster.

Wayne
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