In a nutshell, Roach's argument is that America's record trade deficit means the dollar will keep falling. To keep foreigners buying T-bills and prevent a resulting rise in inflation, Federal Reserve Chairman Alan Greenspan will be forced to raise interest rates further and faster than he wants.Wonder how the propagandists are gong to blame that situation on Bill Clinton?
The result: U.S. consumers, who are in debt up to their eyeballs, will get pounded.
Tuesday, November 23, 2004
"Economic Armageddon" (link fixed)
The only story more important than vote fraud is the hellish condition of the American economy, due to the ghastly overspending of George W. Bush. Those who still don't get it must read this piece in the Boston Herald. Morgan Stanley's chief financial expert Stephen Roach, is privately telling associates that our nation has only a 1-in-10 chance of avoiding "armageddeon":
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2 comments:
Some of your links are not pointing anywhere except your blog. The Economic Armageddon one is an example.
its stuff like this that make you glad Bush is in. He and his people will be crushed by this. No more economic radicals, no more cultural warriors, no more religious zealots. And you'll be immunized from another president with the name Bush for all etternity. Someone though should tell Kerry & co to let the recent rigged election go they do _not_ want to be at the helm when this thing blows no matter how hard it hurts to let the fucks win, but the fuckers have only a short term win, they just need wait for 2008 and in the mean time hire economic realists by the busload and break out FDRs New Deal from the archives.
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