Danger Time for America

The Economist ^ | Jan 12, 2006

[Travis McGee]

[Travis McGee]

ping.

[farlander]

I'm not sure, are we DOOOOMED(tm) ?

[HolgerDansk]

Let's not forget Greenspan's monumental screwup in 1991, cranking up interest rates while ignoring the obvious signs of a much-expected postwar slowdown. That mistake cost GHWB the presidency, and ushered in Bill Clinton, whose mistakes on everything from China to the Middle East, to things like energy and infrastructure policy, that we're still paying for.

[advance_copy]

That article is B.S.

[Dead Corpse]

If we keep exporting the means of wealth creation... then yeah, we are in big trouble.

[speedy]

Seems to me I read this same story 20 years ago, and every year since then. Of course we are always on the verge of a serious economic decline, and prosperity can never last. Resistance is futile, and nothing but misery lies ahead, as all indicators show. In fact, near as I can tell, the world has been sliding downhill since at least the time when Homer wrote the Iliad and had similar complaints.

[vrwc0915]

Ahhh I see do tell why

[advance_copy]

When house-price rises flatten off, and therefore the room for further equity withdrawal dries up, consumer spending will stumble.

Consumer spending is not fueled by home equity loans. Have you taken out a home equity loan to buy things like plasma TVs? If you did, that would be pretty stupid. 90% of what the writer says depends on home equity drying up, which it isn't. But even if it did, the effect is not what is asserted. The article is B.S.

[archy]

ping.

Pong:

[vrwc0915]

There are a lot of stupid people. About once a week someone talks at work about refi some with intrest only loans I have never taken a home equity loan nor will I. I only do 15 year morgatages. I don't finance cars either

[dennisw]

Bold Freeper nitwits can post any darn thing they want but the gold price and the crude price tell the truth

Paper, plastic or gold sir? I know what my choice is and may God help us on our rendezvous with destiny with Iran. This is not a joke. This is not frivolity. This is not loose talk and rhetoric. I would wish that all you free trader libertarian nitwits would shut up and listen. You are are about to find out what the words "geo-political economy" means. You stupid f's have been living in a dream world. Many Wall Streeters have actually been aware and have been taking money off the table for years while they sold out America for years

[TexanToTheCore]

Wow. Such tripe used to end up in the trash bin.



Physicians (EUers) heal thyself.

[durasell]

I usually give extra weight to The Economist. These guys actually know their stuff...

[dennisw]

Paper money, plastic money or gold? What's your choice? It's gotten a lot worse in 25 years. Today people think plastic is real money. Plastic credit cards and electronic blips blinks and notations

[dennisw]

Sorry but don't be sucked in by "The Economist". Great cover, great puns for captions, it looks slick but it's free traitor all the way. Brit arrogance, don't bet on what they print

[litehaus]

I get/read that leftist rag too.....read it for the reason:

Keep your friends close, your enemies closer

[durasell]

Bill Emmott is a very bright guy. His book, 20 21 Vision is quickly becoming a classic. I tend to give a little extra weight to stories like this -- plus, the economy is acting a bit screwy.

[durasell]

The Economist is "leftist?"

[R. Scott]

I'm not sure, are we DOOOOMED(tm) ?

I don’t know. I’ll have to get a degree in economics to figure that out.