I've said this for years: the United States Credit System is the shock-absorber to economic fluxuations and when healthy guarantees constant growth in the economy and guards against a long-term recession or worse, a Depression.
But that party's coming to an end, rapidly. Take a look at these indicators presented by MarketOracle.uk: US Recession in 2007 - Third Leg of the Bear Market Likely
In 2004 I told Gary Hart, who was considering a presidential run, about this. All he could talk about was changing the tax system. Geez!
Reagan lied. The economy died. I’ll take the word of my 95-year-old mother who called me last night screaming, “Goddamn those Republicans, they’re at it again!”
ReplyDeleteThere is something to be said about experiencing events first-hand - especially 95 years of experiencing them.
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Muthu
Credit Card Debt