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To: samim anbarcioglu who wrote (121796)7/19/2002 2:40:45 PM
From: Jim Willie CB  Read Replies (1) | Respond to of 152472
 
you are clueless, next is simultaneous world recession

you will get your cheaper dollar benefits ONLY AFTER the recession (if not depression) cleanses the excesses and heals the sick balance sheets

we live in a debt-based economy
health is defined in terms of capability in floating larger and larger amounts of debt
as opposed to a definition based on savings ability, which would fund our own spending
instead, we rely on our foreign neighbors to pay for our entire standard of living and our entire socialist system, and our entire world policing sentry duty

banking systems are built atop reserves of debt instruments
IT IS ALL BACKWARDS
the declining dollar will expunge these economic heresies, flaws, and evils
it will utterly shock you
but in your ignorance, you will blame the wrong things

only after the bulldozer of DEFLATION wipes the slate clean can American exporters benefit
our customers abroad will be enduring severe economic shock
most of Asia will experience early depression, before us

we Americans are now working at the 3rd floor on a steep ladder
(with unprecedented high dollar values)
our dollar creates higher costs for exported goods
we would do well to very slowly descend the ladder
so that we could adjust gradually in a healthy way
we would be able to work more effectively on the ground floor
(with parity in currency exchanges)
instead we are being pushed to the ground
we wont be able to work, because we will have broken arms, legs, and backbones

after a long healing process, then we can work at the ground floor level

you are clueless
and so are 80% of American investors
the illiteracy of Americans will become a major issue
/ jim