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

To: re3 who wrote (18786)	5/5/2003 2:51:06 PM
From: Jim Willie CB	Respond to of 89467

we wont get a real crash, not in the classic sense the kinder gentler more meddling USGovt will ensure that the stress is drawn out and made worse to a certain degree the way I like to look at it... the US financial markets will see colossal losses upcoming e.g. stocks another $2-3 trillion bonds at Trez side perhaps $1-2 trillion bonds at Agency side perhaps $1 trillion bonds at Corp side perhaps $4-5 trillion if the market were truly free, these losses would be realized suddenly and quickly and traumatically unemployment would shoot up to 20% at least chaos would reign supreme but instead... we will see the losses dragged out over something like 6-8 more years and possibly longer with even 1-2 false bear rallies in between with the inevitable damage being about 20-25% worse than otherwise because more good money will be thrown after bad because more available credit will be thrown after bad such is the nature of intervention it doesnt fix anything it delays the resolution it worsens the accumulative effect I preach to the choir, though not meant to be instructional, only reinforcing later, jim