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

To: John Vosilla who wrote (96590)	8/24/2008 11:03:44 AM
From: Tommaso	Read Replies (2) \| Respond to of 110194

"The Economist" is aptly named, since economists get things wrong very frequently. It was the same magazine that announced that crude oil was going to $5.00 a barrel a few years ago. But I am a subscriber, and I read most of the magazine every week.

To: John Vosilla who wrote (96590)	8/24/2008 9:45:52 PM
From: Kailash	Read Replies (1) \| Respond to of 110194

Nice piece. It'll be interesting to see when the US media start telling everyone we're becoming poorer and can expect to keep becoming poorer. A corollary is that the dollar will not be supported by higher interest rates. At some point the US will need to borrow less money from abroad, and it will be an unpopular decision, since it will necessitate either higher taxes or lowered expenditures. A lot is at stake in this election. As the dollar drifts lower relative to the renminbi, the Chinese will be absorbing part of the decline of the US economy. They'll also want compensation for this going forward, so interest rates may go up due to continued US borrowing needs. It's going to be very hard to remain a popular president in the next term. K