To: surfbaron who wrote (6793 ) 9/20/2002 9:44:27 AM From: Jim Willie CB Read Replies (2) | Respond to of 89467 past US leadership is no gaurantee of future performance your point is well-taken, SurfMan but the unfortunate reality is that the US has made many many colossal errors in the last few years, compounding it with exporting a debt-based financial system which other nations have emulated to their own destruction, culminating with a deceptive lure of a strong-dollar policy which has so far successfully enticed foreign savings to be diverted (like a steady I.V. of JackDaniels) into our economy, and now the most deadly game of all is in the American crosshairs -- WAR the payback consequences is due for such mistakes of judgment, of system, of policy those nations that built their entire economies upon exports will now have to find new demand, or face endless recession, while having to deal with holding massive surpluses in the form of USTrez debts, as opposed to hard assets like gold those nations that relied unduly upon a steadily debased internal currency will now have to find a new trick for making their exports more attractive to purchase, such as product features (and not just low cost) those investors around the world who expected the dollar to rise to the stratosphere will now have to face the reality of a new trend whereby the dollar is in decline, producing strong headwinds for the world economy, as our deficits force the dollar lower (supply & demand dynamics) can the world now allow the USA Military, which is totally funded by a USGovt credit card, to spend and spend, attempt to embark on nation-building in Afghanistan (now in early stages of civil war with our soldiers in crosshairs nightly), with very little accountability from the community of nations ??? can the world now allow the USA Military to act in the MidEast tinderbox without the support of 75% of our allies, attempting a new round of nation-building and border-settling, all while world commerce is desperately dependent upon their supplies of oil ??? damn I believe we must fight these Al-Qaeda dirtbags but I dont believe we have the knowledge to do so I say put in suicide squads of snipers to kill Saddam and BinLaden's lieutenants I say employ Kurds, Israelis, Shiites to work with us inside Iraq but the reality here is that the USA Decade has ended and the remaining question is whether the American Era is entering its twilight I suspect it is we have looked the other way to our internal debts for a few decades now $6000 billion in federal debts household debt service costing 107% of income Naz100 debt now at 120% of its market capitalization and nationwide $32,000 billion in aggregate debt these debts are debilitating, much like a millstone drag the USA behavior is wholly inconsistent with being a deep-in-debt if not bankrupt nation the USGovt is an Enron nation with corrupted economics the new trend is exposure of American corruption I am sorry to say it is far far far more endemic than we admit US Govt economic statistics (distortions, sznality, estimates) US Govt suppression of gold and countervaling prop of Dollar US Major Corporations accounting, stock options, largesse US CIA intervention, murder, dictator support no, the USA will be blamed for this Kondratieff Winter and much of the blame will be much deserved anything horrible economically in the next five years will fall onto America's doorstep, rightly or wrongly the reversal of the Strong USDollar policy will wreak havoc as a VICIOUS CYCLE, which will whip anti-American sentiment into a chorus get ready for it / jim