escalating trade deficits are a good thing, right Mike?
it means the indefatigable US consumer proceeds with endless purchases of Japanese Korean cars, Sony stereos, Chinese clothing and trinkets, Korean chips, etc, which indicates incredible resilience in the face of dogged debts, right?
it doesnt matter really that the consumer spending growth rates are exceeded by consumer incursions of greater rates of debt, right?
foreign purchases of our wonderful products will catch up, as their expanding economies develop a more robust middle class, as debt financing enjoys a new burgeoning growth of its own, as they recycle some of their export surplus dollars into new hightech infrastructures, right?
the management of the US economy is vacant
with the Federal Reserve having usurped power to control banking...
and essential effing nobody in control of economic policy...
the US Ship of State wanders as a derelict at sea
while Trez ONeill declares the trade gap as meaningless
while Fed Hairless Chairman Greenscrotunm declares the economy strong, as long as it continues to rape in housing equity
while Wall Street Whores declare that the bull has returned, looking for bear blood
gimme a break
a fuching train wreck is coming
housing vs income
stocks vs valuation
money outflows vs inflow requirements
illiterate Americans are being played
IBM news was horrible
Gold Cartel players are now indistinguishable from major bankers of ordinary ilk
each owns a brokerage arm, and is busily spinning yarn
we repeat 1929 without even the awareness of history
we are a nation of illiterates, fully deserving banana republic status
/ jim
