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

To: Lymond who wrote (61413)6/4/1999 8:35:00 PM
From: Mike M2  Read Replies (2) | Respond to of 132070
 
John, I assume my numbers are new lending. You bring up an interesting point about the impact of refinancings so I will have to look at your numbers for outstanding debt.While this do seem to temper the insanity of the debt situation somewhat I still feel it is out of control. I think the debt GDP numbers for 1929 was 140% and we are now at 260%. Mike



To: Lymond who wrote (61413)7/7/1999 10:28:00 AM
From: Mike M2  Respond to of 132070
 
John, in 1998 $ 1.5 trillion in new mortgages were created of this $1 trillion were refinancings. source The Richebacher Letter mike


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