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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (57431)	4/26/1999 12:16:00 PM
From: Cynic 2005	Read Replies (3) \| Respond to of 132070

Here is "THE chart" every one is talking about. How long before we have another credit-crunch? geocities.com

To: valueminded who wrote (57431)	4/26/1999 1:48:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Chris, >>He can do it forever as long as the dollar is the worlds standard and they dont care that how much we print. Seems they are stuck with it and we can do whatever we want. << I just had a conversation with someone else about that. My point was that we DON'T have free markets per se. What we have is a situation where excesses are allowed to grow in the name of short term stability until they get so large they blow up. I consider the dollar as the reserve currency an example of that although many would disagree. If I was a foreign investor I would not want to keep my money in dollars. We are an enormous debtor nation with a large and growing current account deficit, and an enormous stock market bubble. Yet in some ways the system is designed to give them very few options as an alternative. When/if private foreign investors start to bail out or have doubts, all of a sudden central bankers will step in and fill the gap as best they can. So I understand your point. But in the end AG can't win on this path. He can only make the final result all the worse as the excesses will get larger and larger. Of course his successor and George W Bush may get stuck holding the bag for the recklessness of this period. But only 1 in 20 Americans will understand who did it to them. WC