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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (30841)	4/17/2005 1:25:25 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 110194

Another excellent essay cutting through the BS and getting down to the nitty gritty! The bottom line is that the US is living way beyond its means and this cannot last much longer. This is not something politicians of either party or Greenie and his crew of bubbleoneons at the Fed want to hear. The markets will have to FORCE such an adjustment as Paul Voker recently hinted.

To: mishedlo who wrote (30841)	4/18/2005 1:28:34 AM
From: FrozenZ	Read Replies (2) \| Respond to of 110194

Great essay, thanks for that. I did think you sort of glossed over the number one export the USA has which is agriculture, made possible of course by cheap illegal migrant labor (different topic). In reading this and similar opinion pieces I am struck with a great sense of deja vu . All of the arguments made perfect sense to me the first time around during the Reagan years. Exploding budget deficits, trade deficits through the roof. Savings and Loan shenanigans, tax cuts for the wealthy, trickle down theory, going from the largest creditor nation to largest debtor. There were many books written back in those days, (1981) about why it all would explode in our faces. I believed it then and I believe it again now, but I have no idea why it is different this time.