John Forbes quoted and wrote: ' "Circumstances seem to me as dangerous and intractable as any I can remember, and I can remember a lot." And: "As a nation we are consuming and investing about 6 percent more than we are producing." That was Paul Volcker, former chairman of the Federal Reserve.'
'http://www.washingtonpost.com/wp-dyn/articles/A38725-2005Apr8.html' 'We'll do nothing now, but we'll remember these words in about five years time. 1929 will seem like a mild hiccup.' I thought I was the only one who felt uneasy about the current economic situation in the US. The US government deficit spending / trade imbalance combination reminds me of a family where the old man is out of work and they're living on credit cards. It works okay until the credit runs out then they're in a world of trouble. The US government will eventually run out of credit. The aftermath will not be pretty. Tom Reese
