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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (93267)	11/27/2001 2:32:19 PM
From: yard_man	Read Replies (1) \| Respond to of 132070

I like the focus on the real economy though. All that financial stuff -- why that's illusory <vbg> Really, I don't disagree with you ... But are we really getting what we pay for with so much of our concentration in the financial services area -- or does 80 - 90 percent of it just turn out to be a drag in the end??

To: Knighty Tin who wrote (93267)	11/27/2001 4:26:46 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 132070

So, here is what I get from the Austrians: Some day Alan da Printer is going to hit zero on rates. Fannie and Freddie's balance sheets will have teetered over on their sides after hitting the iceberg of reality. The service economy will be taken off its speed habit cold turkey. Mfg., already in depression, won't get much worse, but the market will go to heck in a handbasket. And, as always, there will be a number of stocks and cos. that do o.k., and the way the markets are rigged, make the indices look much better than the reality. But still pretty bad. As I try to think about this, I realize that I don't have a very good handle on what a popping credit market bubble will look like -- what is the order of events, what sectors will get hurt most, etc. Will the consumer credit market freeze up? or will lenders just suddenly remember to ask if the customer is credit-worthy? What will happen to existing mortgages and all their derivatives? Any advice for the perplexed welcome. TIA.