Do you have a link?
John
On Tue, 19 Apr 2005 21:02:34 +0000, <[EMAIL PROTECTED]> wrote:
Read the editorial page in today's Wall Street Journal. Others far more knowledgable than I have already set Volcker straight. The poor chap has a lot of axes to grind.
Paul,
That's all right, then. Thanks for the reassurance. Be a good fellow and
tell Paul Volcker, though. Poor chap doesn't know very much about these
things, and he'll be glad for you to put him right.
John
On Tue, 19 Apr 2005 20:41:18 +0000, <[EMAIL PROTECTED]> wrote:
> The US government won't run out of credit. Japan and China will continue
> to buy dollars because their economies are dependent on US consumers.
> The dollar will eventually gain strength as interest rates rise. It's
> cyclical. It's not a big deal. But gnash your teeth and wring your hands
> if you must.
>
>
>> 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
>>
>>
>>
>
>
>
>
>
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