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To: 4figureau who wrote (3793)3/26/2003 9:59:16 AM
From: Jim Willie CB  Read Replies (1) | Respond to of 5423
 
rather than sharp economic recovery, a painful recession
its duration will be much longer than numbnuts expect
its likelihood of extending into a depression depends on many things

yesterday, Congress cut in half the fiscal stimulus package for supposedly lifting the economy

so instead of consumer spending stimulus and tax relief stimulus, we will have $100-300 billion in wasted war expense
I shouldnt say "wasted", but instead "unproductive"

is anyone aware that the USA purchases 90% of Iraqi exported oil ???
that oil production has totally ceased and ended kaput

expect rising crude oil prices very soon, like by April

the BIG DADDY on the economy is mortgage finance and real estate prices
I will be watching it closely
so far some minor cracks in FannyMae (not her ample obese buttocks)
REFI cashouts are shutting down

/ jim