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

To: Lizzie Tudor who wrote (24802)	8/9/2003 11:52:27 AM
From: Rarebird	Read Replies (3) \| Respond to of 89467

Crying won't help. All these "booms" are now over: The stock market boom ended in early 2000. The $US boom ended in January 2002. The bond market and mortgage refinancing boom ended in June 2003. The actual mortgage boom now going on will end very soon. All booms turn into busts. The soaring market interest rates since mid-June put the writing firmly on the wall. With the turnaround in interest rates almost two months old, the very last surge of consumer borrowing - for new mortgages - is taking place. Yes, government will try to go on trying to substitute budget deficits for the drying up of consumer and corporate borrowing. No, they will not succeed. What they WILL do as the deficits increase is cast more and more doubt upon the creditworthiness of the borrower - the Treasury and the currency in which the debt is denominated - the US Dollar. Such a situation is absolutely PERFECT for Gold (and Gold stocks).