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

To: mt_mike who wrote (4191)	8/8/2002 1:59:43 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

exactly why US asset contraction will be far worser bankruptcies will be the order of the day I have made my outrageous prediction several times 20% of American households will end of declaring BKtcy in Q1 alone it was 365,000 which represents about 2% of households (not sure here) the Puplava graph of BKtcies is scarey it peaked late in 2001 at around 400,000 I stand pat with my 20% call so in the US, we will have liquidations out the yingyang in Japan they continue to support the walking dead companies they get absorbed into the keiretsus (conglomerates) same in Korea with chaebols my point is that Japan suffers from stagnation as a result of the absence of bankruptcies, either personal or corporate they save very effectively so they have been able to survive I fear a much worse scenario in America we will not have savings to fall back upon the liquidation BKs will couple with job layoffs to produce a monstrous problem it will feed upon itself, providing more need for federal assistance, for federal money infusions (but how?) soon the only spending some will be able to manage is from direct hand2mouth from the USGovt that is what I expect like federal tax rebates, which were far too watered down last year for instance, I didnt get a dime since I was on QCOM Sabbatical in 2000 spreading rebates over several years is like not having any at all I smell political fighting will gut the decisionmaking base altogether we simply wont react until it is too late numbnut Dems and numbnut GOP's will fight and do nothing meanwhile Congress approves $B's in the wrong places this is gonna get so incredibly ugly by next year it is starting to affect my sleep imagining its unfolding AND NOBODY SEEMS TO POINT THE FINGER AT THE CONTINUED STRONG DOLLAR POLICY, OR THE PAST STRONG DOLLAR POLICY it bankrupted America, by pricing us out of the world economy it attracted foreign capital, only to cause a bubble in assets which is now broken AND OUT OF CONTROL Argentina, here we come !!! / jim