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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (1665)	3/10/2004 9:32:38 AM
From: Wyätt Gwyön	Respond to of 116555

thus the U.S. uses less oil to produce a $ of GDP but uses MUCH more CREDIT to produce a $ of GDP. this is preferable to the Bad Old Days when we had an economy based on real goods, and were thus dependent on hydrocarbons to produce real things. now, though, we have a much better economy based on asset bubbles. why is this better? because the supply of fiat paper is infinite, while the supply of oil is quite limited. perhaps if we could all become billionaires off our houses, we wouldn't need any oil at all since nobody would need to drive to work. LONG LIVE THE CREDIT BUBBLE!