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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (7615)	12/16/2000 6:25:42 PM
From: mishedlo	Read Replies (2) \| Respond to of 13572

A doom and Gloom forecast. Generally when you start seeing crap like this, the end might be near. upside.com However, I did cut out one section that is similar to my credit bubble thought. ====================================================== The $4 trillion in debt taken on by businesses and consumers in the past five years -- the largest debt binge in U.S. history -- will lead to a wave of bankruptcies and cutbacks in consumer spending. Stores and websites will be filled with goods no one can afford to buy. The damage is likely to spread globally as well. A slow-growth, high-inflation, tech-driven downturn in the U.S. could trigger an international financial crisis of historic proportions. For the past decade, the U.S. has been sustaining global demand, accounting for nearly 70 percent of the growth of the major industrial economies in 1999 and absorbing much of the world's excess production of goods. At the same time, the flow of money into the U.S. has been astronomical as foreign investors seek to benefit from the high returns produced by the boom. An economic slowdown in the U.S. could pull down growth in other countries and trigger a massive outflow of capital. Unless the European Central Bank and the Bank of Japan are willing to dramatically cut interest rates -- which seems highly unlikely -- the result will be a witch's brew of a plummeting dollar, soaring inflation and a sinking global economy. ====================================================== The only counter balance I can think of is the upcoming rate cut will fix all these looming problems. Will it? Hell CAN IT? Even it it can, will it happen in time? I did not even realize how big of a credit bubble we are in. It is also ironic that wall street is cheering layoffs. I repeat my claim of how good for financials can that be? Greg the dark side is calling. Greg join forces we me on the dark side. gggg