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

To: pogbull who wrote (4284)	8/9/2002 9:39:45 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

we have to imagine extreme distortions like high end real estate coming down and upper middle class real estate coming down but lower class and lower middle class barely declining this event would hurt consumer spending some but continued fed mass welfare would keep the spending going somewhat despite consumer debt levels reducing further debt intake if RE stays at bay above, then the other distortions come to play like new money seeking positive returns, finding path of least resistance this is commodities, which are not burdened by debt or at least much less burdened meanwhile Treasurys would be just treading water at low yield levels, with some volatility as they withstand assaults from dollar selling, offset by movement from stocks into bonds we would then earn by 2003 a distorted and teetering set of asset classes out there competing for capital as the world continues to give the massive US economy more time, they gradually lose faith that the US economy will return to health but they give us time just imagining a scenario that would buy a bunch of time the world might be more patient with us than we know because if they ditch out on USDollars to the hilt... THEY KILL THEMSELVES since foreigners are getting a glimpse of the dollar selling effects in our dangerous world environment now I think gold will respond far faster than the USGovt will expect, or plan, or imagine possible it must jump past critical levels like #330 each time will be met with cover stops each successive critical level might be defended less so each cover stop collection might be successively smaller heck JW, I am just running wild with my vivid imagination now back to buying a farm, punching dogies, and running a summer camp for young women / JW