O'Neill says U.S. economy may grow 3.5 percent by year-end

The Pittsburgh Tribune-Review ^ | Thursday, July 11, 2002 | Brendan Murray and Simon Kennedy -- BLOOMBURG NEWS

[Willie Green]

WASHINGTON

[Willie Green]

O'Neill knows this as fact. Bono told him so.

---

''If we all join hands together and buy a new SUV, everything will be OK,''

-- Robert McTeer, President, Federal Reserve Bank of Dallas.

[bloggerjohn]

I think releasing an announcement like this right in the middle of a stock crash is counterproductive. It looks dubious and everyone figures it's lying spin that is so completely opposite of what is going down that it has to be untrue. If someone is robbing me I don't want an idiot to step up right then and claim "You're not really being robbed - the crook will be caught in a week and your money returned."

Even if it's true the Timing is bad.

[bloggerjohn]

Spend more? On credit of course. The Real economic problem, the one that is coming on like one of Patton's tanks, is that there is about fifty trillion credit dollars and other fake dollars floating in the world economy, with no place to roost, and no concievable goods or services it can attach to.

This credit crisis is the avalanche waiting to happen. All this stuff about crooked CEOs is only the gunshot that triggers the avalanche. But we don't need to be adding to the snow burden by buying more on credit.

Since the avalanche has been building a long time, it will not be Bush's fault, but I have a feeling he will be scapegoated, Hoovered, and walked off the gangplank since the Big Boys will need a goat for their hidden manipulations. That's the Real reason Harken and Halliburton have suddenly risen from the grave

[Willie Green]

The Real economic problem, the one that is coming on like one of Patton's tanks, is that there is about fifty trillion credit dollars and other fake dollars floating in the world economy,

Yep. Between deficit spending, record trade deficits and the shift to the non-value-added "service economy", the decline of the dollar to Third World levels is predictable.

[weikel]

Yep everyone is deep and debt with no good way to pay it off. The boomers have never been good at delaying gratification. Oh well when the bankers own the country maybe we'll have a free market again.

[Willie Green]

Oh well when the bankers own the country maybe we'll have a free market again.

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

-- Thomas Jefferson to John Taylor, May 28, 1816

[Doctor Stochastic]

"Prosperity is just Around The Corner"

[bandlength]

sing with me!

"just around the corner

there's a rainbow in the sky

let's have another cup of coffee

let's have another piece of pie."