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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (198297)	8/20/2006 3:18:21 PM
From: jttmab	Read Replies (2) \| Respond to of 281500

US credit card debt is now soaring as rising house prices can no longer be tapped as a source of funds by US consumers. I don't understand the last part of that statement. I assumed that sooner or later equity lines of credit would hit a brick wall, but I haven't seen any stories on that happening. The US is likely in a recession already. But the President doesn't want Americans to know that till after the November elections. If the US was in danger of a recession the Fed would be reversing on interest rates. But he does have one last choice in hand and that is to attack IRAN in a desperate escalation. He's going to have a tough time getting Congress to go along with that one. Being on Bush's side isn't the most popular thing to do. jttmab