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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (17449)	3/8/2003 5:45:43 PM
From: Gary H	Read Replies (1) \| Respond to of 81170

On the other hand, I think a good part of the transformation came when it was realized how much debt was accumulated by both the Fed. and the public. They can only overspend so much before it comes back and bits them. The "Go nuts" mentality in the US has now got to be paid for. The public of the US is one of the worst savers in the world. It seems as though they think they will never see a rainy day and don't plan for one. Guess what! It's here. The Fed. seems to be of the same mind. They have spent too much time at the beach building sand castles and now the tide is coming in. A sample is something I heard on CNBC's Suzie Orrman's show (late Sunday nights)which is the only thing I would watch on that channel, the the rest of it is one big sucker shot. Their was a guy who called in to Suzie saying they couldn't seem to save any money. When she asked about their situation he said that him and his wife had a house they were fixing up, they had 5 credit cards with a total balance of $32,000 and were paying them off at the minimum. You can see were this couple are going, in a big hurry. That was ONE of the worst examples I saw on that show. There were more like it. It's not hard to understand why public bankruptcy has reached an all time high. So who is holding that debt? Companies that are not showing a profits and some who are also going bankrupt. Do you see a downward spiral here? Where is the bottom? When will it end? how long will it take? That is the public, what about the Fed? Their debt is humungus. As a number of writer's have stated, their is a massive amount of debt that has to be cleansed from the system. Is one of the hopes( not to mention the Israel thing) of the US Government, in capturing the lions share of the world oil, to reduce costs in the US with lower gas prices(cut cost of transporting goods) while selling oil to the world? Sounds like a move to me. But who is going to pay the brunt of that captured oil? I'd say, US Servicemen's lives, lives in foreign countries, the US public in dollars and the world at large. So the addiction Of the US needs a fix. It's not much different then what you would find in the back ally's of NY or LA, somebody is going to die to provide a fix.