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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: JF Quinnelly who wrote (7898)	1/6/2003 5:41:47 PM
From: JBTFD	Read Replies (1) \| Respond to of 306849

an update on the "limits" quote there: "The US debt ceiling was raised by $US 450 Billion (from $US 5.5 to 5.95 TRILLION) in August 1997. That lasted until June 30, 2002, when the ceiling was raised by another $US 450 Billion to its present $US 6.4 TRILLION. The first raise lasted 61 months. The second raise, of the same amount, is now estimated (by the Treasury) to last for 8 months. Throw in a Middle East war, and the US Treasury is running on a profile which might see them add $US 1 TRILLION to their debt in ONE year. On top of all that, the Federal Reserve is hammering fresh, new money into the US monetary system at a mean weekly speed of somewhat above $US 20 Billion. That shows that another $US 1 TRILLION could arrive, courtesy of the Fed, over the next 12 months." 321gold.com To me this seems a little in excess of Milton Friedman's ideal. BTW, we are at approx 6.4 trillion now. publicdebt.treas.gov