Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (1861)	2/20/2001 10:30:11 PM
From: Mephisto	Respond to of 93284

"The truth is the past decade wasn’t the economic boom people thought it was. During the 1990s personal and corporate debt levels grew faster than income. The US current account deficit, which measures the total balance of payments between the US and the rest of the world, reached levels never before seen in history. The United States became the world’s largest debtor nation. The GDP grew by 8 trillion, but personal and corporate debt grew by 10 trillion. Although the average American spent more, during the 1990s, his wage and income levels stagnated. The place where wealth really increased was in the stock market. Those who had stocks that rose in value felt as if they were richer and went out and spent more using loans and credit cards. The dead heads of the 1970s became debt heads." I've worried about personal and corporate debt and consumer confidence. I was angry that the US bailed out Long Term Capital Management Fund. I wonder if the rich people who were in the fund recouped their money. As far as the Asian crises, I don't know what else Greenspan could have done. I thought the World Bank was heavily involved in loaning money to those Asian countries whose economies went into a tailspin. We never believed Y2K was a serious problem here, but then again, maybe it was. Thanks for the post! I am seriously worried about the US stock markets and economy, however.