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To: Crimson Ghost who wrote (103113)5/18/2001 12:39:54 AM
From: Ken98  Respond to of 436258
 
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To: Crimson Ghost who wrote (103113)5/18/2001 2:49:31 PM
From: pater tenebrarum  Respond to of 436258
 
indeed...and in past recessions, American consumers HAVE increased their savings rate...this is one thing the Fed is determined not to let happen. it's a huge confidence game, as it must at the same time continue to persuade foreigners to export their surplus savings to help sustain the imbalances in the US economy. but try as they might, at SOME point the jig will be up. you can't increase the debt load 5 times faster than the economic growth rate forever.