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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (270537)	1/30/2006 8:21:03 AM
From: Taro	Read Replies (1) \| Respond to of 1576003

BTW, Germany's national debt in percentage of its GNP is higher than that of the USA. Japan's same actually is twice that of the USA measured as a percentage of GNP. Taro

To: Elroy who wrote (270537)	1/30/2006 8:21:54 AM
From: combjelly	Read Replies (1) \| Respond to of 1576003

"He thinks the dollar will decline in value AND interest rates will head up? Those two things are usually contradictory, but whatever." 1970s. How old are you Elroy? The "guns and butter" policies of the Vietnam War led to that scenario. When the Arabs turned off the tap, things abruptly kicked it into to high gear.

To: Elroy who wrote (270537)	1/30/2006 9:04:46 AM
From: combjelly	Read Replies (1) \| Respond to of 1576003

"Weaker than if America had never borrowed a dime? Doubtful, but anyway, what exactly is the danger, according to this author?" Based on experience, high inflation and high unemployment(i.e. the misery index), declining competitiveness, declining value of the dollar, whole sectors of the economy dying off, whole job categories either being eliminated or having wages greatly cut, rise in the poverty rate, stock market flat to down, etc. All of this continues until interest rates are greatly increased which causes real estate and durable goods sales to collapse. Because of the previous inflation, most people had their savings and investments wiped out and are in a very precarious economic position. And the overall US economy in a weaker position with respect to the rest of the world than before it started. Other than that, no real danger.