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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (62988)	6/22/1999 7:45:00 PM
From: Peter Goss	Respond to of 132070

<<Probably, but people are using that money at the retail level.>> PC- that is exactly the engine that will drive this over the edge. All that debt is a fixed liability being offset by the good feelings of the "ever increasing portfolio" on the asset side. If that crumbles or even slowly goes lower, the BTDer personal equity is going to go away. All the consumables cannot create income to service the debt. "Will you take my Lexus and Armani suits instead of a mortagage check?" Not bloody likely. Then the debt liquidation will begin. Then it will be quite ugly. Peter