Rolader
01-10-2005, 05:07 PM
it is unfortunate Alan Greenspan and his merry band of central bankers have
no intention of changing the economic course of America. Greenspan who was re-appointed to a 4-year term... with the
understanding that he keep his hand on the till, as blank
and unyielding as a dead horse.
the consumer intends to stay the course, spending more
than he can afford for as long as he can get away with it.
the investor plans to remain in stocks ,keeping his eye on
that "north star" of stocks for the long haul until he
finally crashes into the rocks of the upcoming bear market.
...and so, the whole nation stays the course and Too bad. For
"the course is headed over Niagara Falls," said Gen.
Anthony Zinni, USMC ret.
Gen. Zinni was speaking on CBS about the administration's war
efforts in Iraq. In the general's view, Bush ought simply
to admit the truth: that he made one of the biggest
blunders in American military history... and move on.
but i won't hold my breathe.
nor do we expect consumers suddenly to wake up and realize
that they are ruining themselves, or investors suddenly to
realize that they have been deceived or Alan Greenspan to
stand before Congress and tell the drooling solons that he
regrets creating the biggest bubbles in history.
On the evidence, the present course has not been a good
one. we Americans are further in debt than ever before,
financed at the lowest rates of interest in 2 generations.
nor are we especially well equipped to carry this debt.
we keep pointing out that the modern consumer economy is a
fraud. Here's the proof: real wages of the average American have
actually gone down for the last quarter of a century. In
the year 2002, the typical American earned 6% less than
in 1977. we are further in debt today.
the picture isn't rosy.
we believe we are getting richer because
assets rise in value,but stocks are no higher today than
they were 6 years ago. And houses? house prices are
rising... but this is a curse, not a blessing because it only
encourages homeowners to go further into debt, by tapping
the 'equity' in their houses as collateral.
But there is little chance that we will wise up.
Bush will not admit error because error is rarely cast out.
More often, error must be crushed out and this is the majesty and symmetry of nature.
For those of us who seek every bit of truth and justice, this is what makes life so beguiling.
no intention of changing the economic course of America. Greenspan who was re-appointed to a 4-year term... with the
understanding that he keep his hand on the till, as blank
and unyielding as a dead horse.
the consumer intends to stay the course, spending more
than he can afford for as long as he can get away with it.
the investor plans to remain in stocks ,keeping his eye on
that "north star" of stocks for the long haul until he
finally crashes into the rocks of the upcoming bear market.
...and so, the whole nation stays the course and Too bad. For
"the course is headed over Niagara Falls," said Gen.
Anthony Zinni, USMC ret.
Gen. Zinni was speaking on CBS about the administration's war
efforts in Iraq. In the general's view, Bush ought simply
to admit the truth: that he made one of the biggest
blunders in American military history... and move on.
but i won't hold my breathe.
nor do we expect consumers suddenly to wake up and realize
that they are ruining themselves, or investors suddenly to
realize that they have been deceived or Alan Greenspan to
stand before Congress and tell the drooling solons that he
regrets creating the biggest bubbles in history.
On the evidence, the present course has not been a good
one. we Americans are further in debt than ever before,
financed at the lowest rates of interest in 2 generations.
nor are we especially well equipped to carry this debt.
we keep pointing out that the modern consumer economy is a
fraud. Here's the proof: real wages of the average American have
actually gone down for the last quarter of a century. In
the year 2002, the typical American earned 6% less than
in 1977. we are further in debt today.
the picture isn't rosy.
we believe we are getting richer because
assets rise in value,but stocks are no higher today than
they were 6 years ago. And houses? house prices are
rising... but this is a curse, not a blessing because it only
encourages homeowners to go further into debt, by tapping
the 'equity' in their houses as collateral.
But there is little chance that we will wise up.
Bush will not admit error because error is rarely cast out.
More often, error must be crushed out and this is the majesty and symmetry of nature.
For those of us who seek every bit of truth and justice, this is what makes life so beguiling.