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

To: Mike M2 who wrote (12341)	1/30/2003 10:11:31 AM
From: Jim Willie CB	Respond to of 89467

debt is debt, and must be given interest and service I understand what you say much unproductive usage of debt corporations wasted far more debt than households in the late 1990's the conclusion is that the entire economy is spinning gears with debt and little production to show for it once upon a time, heavy debt was used to purchase capital equipment, build a factory, create jobs, and thus wealth now debt buys overpriced stocks, vacations, college educations, new cars, second homes, clothes, basic necessities, and really finances a lifestyle that we can no longer afford debt now sustains the consumption bubble this is a primary tenet of the Austrian School of Economics at the end of the Keynesian game, debts spin gears, and must accelerate out of control just to maintain the current levels of GDP activity such is a frightening thought to me, but it is occurring and apparently to the alarm of almost nobody !!! / jim