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To: isopatch who wrote (7568)2/11/2004 12:16:10 PM
From: Jim Willie CB  Read Replies (2) | Respond to of 108913
 
your key words that I take away...

"large number of dead zones - burned out from prior credit excesses - incapable of absorbing any of the past 12 to 18 months of FED generated liquidity"

that says it all
destruction of the real economy
all cheap money is going to speculation
not capital investment to build plant and create jobs

meanwhile, our hack economists look at the aggregate statistics
losing track of location of activity
and are deceived by the distorted data

/ jim