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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (29657)	2/19/2008 5:13:49 PM
From: TobagoJack	Read Replies (2) \| Respond to of 218753

kitco.com 927 & 2,141 is all we need to know from the news to properly assess the state of everything oh, yes, and (fahrenheit) 451, the temperature at which paper burns

To: Maurice Winn who wrote (29657)	2/19/2008 6:07:49 PM
From: Elroy Jetson	Respond to of 218753

Good on Michael for writing that piece. The Federal government's largest "debts" are future obligations which will be increased by inflation rather than reduced. Bob Rubin previously refinanced much of the Federal debt at much lower than previous rates, but there's always lower rates. The short-term debt problem lies with: the banks, who got stuck with the last four months of "work-in-process" that wasn't sold off as CDOs to parties around the world, people renting a bank-owned home who believe they are home owners, and others who think they own commercial property. Once the banks finish re-capitalizing, the banks will be in a position to foreclose on and liquidate the second group - and we won't be seeing low interest rates any longer. The curious thing is the federal debt, as a percentage of GDP is not that much larger than where Reagan and Bush I left it. Of course Bush II has increased the debt from the level where Clinton reduced it to, but far less than I would have expected. The amazing thing is that the losses from the foreclosed U.S. properties will be borne primarily by parties in other nations. That will teach them some skepticism about Wall Street and their magic products - a group which long ago wore out their welcome in the US. .