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

To: Skeeter Bug who wrote (82795)	8/9/2000 10:48:43 AM
From: pater tenebrarum	Respond to of 132070

SB, in an Economist article about a year ago it was stated that German productivity growth has been much higher than US productivity growth throughout the '90's. and Germany hasn't discovered the wonders of hedonic adjustments yet. anyway, i think that there's an agreement among the G7 that the US bubble must be kept afloat, the dollar kept strong, gold kept suppressed, etc., for fear that a bursting of the bubble would sink the global economy. that does of course not take into account that the longer the situation persists, the more painful the eventual adjustment will be. it also means that the world's productive capacity is enslaved to the appetites of the US consumer in exchange for US IOU's that are printed in worrisome abundance. of course there's a bit of a trade-off insofar as slowly but surely ownership of US assets is changing hands...but these assets are at the same time collateral for an incredibly fast growing mountain of debt. over $10 trillion in US ST debt needs to be rolled over every six months... at some point the charade will of course meet with a violent finale...if i knew when, i promise i'd tell you. -g- don't forget to buy the dip...