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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (39355)	9/2/2002 12:43:15 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 52237

"Whipsaw" on our site's board found this on it........ =========== Posted on Sunday, September 01, 2002 - 2:33 pm: -------------------------------------------------------------------------------- dailyreckoning.com The Mogambo Guru August 27, 2002 - The Fed pumped up raw Fed credit to the tune of five billion last week, probably to finance the new IMF packages to Argentina and Brazil. Which I assume immediately flowed back out and into the USA and Spain, so as to be beyond the reach of the confiscation of assets by inflation that is sweeping those countries, to name but two. The Fed also monetized another $2 billion of government debt during the week, magically turning debt into fresh fiat cash to further debase all the existing cash. ============== This is just but one of many disturbing monetary trends lately. While researching later on, I found some Fed delinquency info showing a 9.5% write off rate on credit cards which is the highest in history. Think of it, almost 1 out of every 10 credit card accounts has to be eaten by banks right now. Why do I bother paying my bills, Heck I should take out a 125% home equity loan, max out my cards then move to Tahiti or something and take it easy! -ggg- Good Luck, Lee