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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (1435)	12/15/2000 2:33:11 AM
From: Shack	Read Replies (2) \| Respond to of 74559

QPK, don't you see that it was AG's loose interest rate policy that got us into this mess in the first place? He made credit so cheap that Americans were able to go on an orgy of spending while growing their personal debt to 109% of disposable income. Meanwhile, companies have had the same benefit allowing them to go into hock to the point where thousands will begin to default on their loans given the lack of cash flows and profitability. It is not really Al's fault though. The banks didn't HAVE to make bad loans and the consumer didn't HAVE to go into excessive debt. Here we stand in 2000 with inflated asset and stock prices and no more money to prop them up, heading into an economic slowdown. Very scary times ahead.