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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: SOROS who wrote (2801)	7/21/2002 12:18:31 PM
From: Jim Willie CB	Respond to of 89467

Georgy, 2 things drove 1990s: rising dollar, dropping rates both led to the big economic "miracle" now what underpinned both of those forces? gold sales subsidized TBonds all decade long now we reverse everything for a few years... dollar drops rates eventually rise inflation eventually returns (perhaps with vengeance) real estate eventually falls stocks fall unemployment rises gold takes off and my favorite: Asian banks implode in 1997 we saw a temporary benefit with Asian Meltdown this time will be much much much different since back then we had strong demand and saw a lower cost benefit in all the asian supplies by 1998 the destructive effect was seen in Russian Defaults Asian Meltdown II will be destructive as hell our demand is now slacking our vulnerability to further deflationary forces is huge this time we go straight to the Default effect it should take a few months the stock market is not hearing or expecting it yet not yet / jim