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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ItsAllCyclical who wrote (85024)	9/12/2008 9:17:38 AM
From: ajtj99	1 Recommendation Read Replies (1) \| Respond to of 116555

I think you could also say the introduction of the credit card coincided with the expansion of the US trade deficit. There's likely no correlation, but it's an interesting sidebar.

To: ItsAllCyclical who wrote (85024)	9/12/2008 10:28:50 AM
From: Elroy Jetson	2 Recommendations Respond to of 116555

The U.S. began to run horrific systemic deficits shortly after Ronald Reagan was elected on the dubious premise that governmental activities could be both expanded and run on debt rather than taxes. Like any family running on debt in place of income, this feels terrific for a period of time, until they reach the end of their credit limit and lose their home to foreclosure, their cars to repossession. Even while fighting for a bed at a homeless shelter or a park bench they continuously mutter to themselves about bullet curves and how growth is just about to bail out their family finances. You've seen these homeless people talking to themselves - now you understand that if you stopped to listen to them that their soliloquy sounds remarkably similar to babble you've heard from from David Stockman. .