read editorials? to understand world finance and macroeconomy? you've made my day!
why not read an editorial in NY Post? at least that's more fun. mishka On 4/19/05, [EMAIL PROTECTED] <[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 > > >> > > >> > > >> > > > > > > > > > > > > > > > > > > > > > > > -- > > Using Opera's revolutionary e-mail client: http://www.opera.com/m2/ > > > > > > -- > > No virus found in this outgoing message. > > Checked by AVG Anti-Virus. > > Version: 7.0.308 / Virus Database: 266.9.17 - Release Date: 19/04/2005 > > > >
