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Reply #24: It's Very, Very Simple. Our Entire Economy Is Based on Debt [View All]

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Home » Discuss » Archives » General Discussion (01/01/06 through 01/22/2007)

Yavin4

(1000+ posts) Send PM | Profile | Ignore

Tue Jun-06-06 12:23 PM
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24. It's Very, Very Simple. Our Entire Economy Is Based on Debt

We don't make anything any more. We don't dominate IT any more. We owe more than what we take in. Our entire economy for the past 5 years was based on cheap borrowing, and now, borrowing costs are rising, so our economy will slow dramatically.

The stock market is reflecting the fact that the Fed will raise rates to somewhere between 6.5-7% before it stops. At that level, we will see a clear, no doubt about it recession.

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