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

To: suanny who wrote (75038)	12/8/2006 12:51:10 PM
From: GST	Respond to of 110194

Yes, the Grapes of Wrath depicted the impact of the end of a credit bubble in a country that had no net foreign debt and very low reliance on international trade -- that country ceased to exist a long time ago. Now we owe trillions upon trillions beyond our own borders - just paying the interest requires staggering payment. Practically everything we do now depends on the willingness of somebody outside the US to manufacture it AND pay for it, including home mortgages. Unless this sinks in and becomes part of your understanding of the US economy, then you have no chance at all of understanding what happens to our economy if it slows down.