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

To: stockman_scott who wrote (19875)	6/3/2003 7:08:44 PM
From: Jim Willie CB	Respond to of 89467

Baker reports responsibly it is about time that numbnut financial journalism which blames Bushy for the entire broken bubble consequences 1. stock bubble 2. dollar bubble 3. real estate bubble one down, one going down, one to go the #1 item was painful the #2 item will be more painful the #3 item (if and when) will be devastating, leading to a real bad stagflation worse than the 1970 decade this is my takeaway: The Clinton boom was built on three unsustainable bubbles. One of them, the stock bubble, has already burst. The other two bubbles – the dollar bubble and the housing bubble – are still with us. The dollar bubble is starting to deflate, and the housing bubble is perhaps just now reaching its peak. These bubbles created the basis for the 2001 recession and the economy's continuing period of stagnation. / jim