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

To: westpacific who wrote (20454)	6/16/2003 9:22:20 AM
From: Jim Willie CB	Respond to of 89467

how many weeks? my best guess is 6-12 months until serious dollar problems start to be felt in the retail prices, in the foreign-held USTBonds, in job losses and just like cars, low rates will not matter as the housing sector begins to falter sooner or later so many people in the mainstream actually believe that real estate will rescue the economy it is doing no such thing check out this dense article by Frank Shostak gold-eagle.com an excellent article where this economic genius points out how the financial sector is slowly killing off the productive US Economy I compare it to the financial sector assuming the identity of a real economy, much like the Soviets assumed the identity of the Russians with growing emphasis with pumping up the housing sector, drawing out capital on credit, using it to sustain the retail sector (our economy is 75% consumption), we are slowing destroying our real economy the financial sector is the unreal economy, the New Economy bullshit, which failed us in 1999 and will fail us again soon the evidence of failure will be seen in lost jobs, rising credit, and lack of demand for capex Shostak outlines it in excellent fashion but it is a bit dense for a statrat, it is great and understandable he makes a great point thru the article... that if the entire economy is pumped up, if the stock market is pumped up, then all the Fed has accomplished is to create higher swings up & down relative to the main trend in the REAL ECONOMY and the REAL STOCK TREND so expect a recession soon in the real econ and a disquieting downmove in stocks soon / jim