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

To: abuelita who wrote (27657)	9/16/2003 11:27:27 AM
From: coug	Read Replies (1) \| Respond to of 89467

Thanks rose, For posting the series on the NWT. I find the human interest stories most interesting. Like the diamond cutter far from home in a completely different environment. But that always seems to be the case for those that chase the riches from the ground. I know a little bit about that.. Anyway I will post an article from Fleckenstein that makes one want to OWN a few of those "riches".. snippet... <<We have piled up mounds of debt. Every year, it takes more debt to generate an incremental dollar of GDP, such that the national debt is now around $35 trillion, as compared to a $10 trillion economy. Consumers have leveraged up appreciating home values to live beyond their means. But they are so spent out that auto sales are flagging, despite zero-percent financing and rebates. There has been some incremental good news from certain tech companies. But that's because they are the companies that sell to companies that may be building up inventory. There are no real signs of an improvement in end demand... Dawning of insight, downside for equities In my view, the market will experience a dislocation when it dawns on folks that this "recovery" has no legs, that the Fed is not able to "bring it," and that no cavalry will rush in to fix the big problems we face. What remains to be seen is the process that will usher in this break in psychology.>>>>>>>>>> More... moneycentral.msn.com m