To: Jim Willie CB who wrote (1147 ) 4/10/2003 11:46:56 PM From: SOROS Read Replies (1) | Respond to Beginning to look like one thing will lead to another until the US pushes into many countries. This can cause multiple troubles -- rising deficits, world hatred for US and increased terror attempts, etc. Meanwhile, Greenspan is down to only one option -- use low interest rates and print money like there's no tomorrow in hopes of turning the business cycle. Austrian economists feel this is useless, and the US could easily be another Japan. Greenspan's problem will soon come to light. That is, what is the plan when this lowering of rates and increased printing of money does NOT reverse the economic slide? They have no plan. Japan had no plan either. They are even thinking about taxing bank deposits at a higher rate -- in effect, telling people that if they don't spend their money, the government will start to take it away. Now there's a well thought out plan! That is the key. It's not a plan but desperation, and that's where the US is headed potentially -- plus, the US has to fund a non-ending war while social security and the entire health care industry with an aging population is about to open up a whole new can of worms.
