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

To: UncleBigs who wrote (61721)	5/23/2006 10:01:34 AM
From: GST	Respond to of 110194

There is nothing inherently wrong with a "service" economy. 95% of all Americans are in services of one kind or another. India and China aspire to be leaders in future services. Service economies can be rich and productive. Our problem is not services -- our problem is we are increasingly not competitive in services and we think the world is full of people less smart than we are who owe us a living. Our problem is we don't think we are required to pay our collective bills.

To: UncleBigs who wrote (61721)	5/23/2006 10:24:46 AM
From: stockfiend	Read Replies (1) \| Respond to of 110194

I don't think you're giving the US economy enough credit. Sure the Fed's been propping it up for the last 5 years, and a cleansing recession is long overdue, but the economy existed before the housing bubble and it'll recover after. As negative as I am on the Fed and the dollar, I still believe the US economy is the most creative and dynamic in the world. Every few years a new chapter is written about how this trend or that country will be our undoing. I don't buy it. Whoever has bet against this country's long-term prosperity has been wrong, for over 200 years and running.