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

To: tradermike_1999 who wrote (7501)	8/21/2001 8:56:16 PM
From: westpacific	Respond to of 74559

Greenscam has done the damage - and only making it worse. Forget him stepping down, the finger pointing is always at the FED. But the blame goes out to state, national governent, to corporate America, to the individual. We had our chance, we had 18 years of growth, we squandered it, we did not pay down debt, build up reserves - no we spent and spent and spent - like the sun would never set. All the above groups did - no one planned for the day on the horizon when the band would stop playing for a few years. NO the blame goes out to many parties, do not point the finger just to the FED, yes they allowed the glutony, the excess via cheap capital, but if that cheap capital was used properly everything would be OK. So before you blame Alan, look at yourself, do you have capital reserves, did you live modest, did you build and hold equity in your real estate, did you shop for bargains and budget in the boom - if you did not - then POINT THE FINGER AT YOURSELF. This CRAP that debt is good, do you really buy that - I sure don't - do you as an American like to be owned by foreigners - that debt - they OWN US. BS I do not bye it and never will. All the best West