Funny but today I read in business news the markets are up again and getting firm.
Housing is on fire and consumer confidence is hardening.
The economy is on the upswing.
This is good because low interest rates is what everyone wants.
The only damper is a lack of employment growth but I predict that will also increase due to primary drivers.
Here in Canada things are a bit better for the time being but our unemployment rate is historically two to three points above that of the USA.
My only concern is large debt levels of people and governments and less so corportations.
In the long run the debt issue is the most worrisome.
It's Still The Economy, Stupid, page
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Topic started on 30-10-2003 @ 11:39 AM by ktprktpr
itstheeconomy.blogspot.com...
He says it like it is:
"The United States has become the consumer of last resort. We consume the world's production and exchange it for promises to pay it back in the future. Looking at GDP (our income statement) and the Z-1 (our balance sheet) shows that this fundemental disequilibrium is only growing worse over time. It cannot go on forever and it will end in tears. In the meantime we just have to expect more chaos in relative prices, while "inflation" remains tame. Another year of 10% health care premium increases and 2% cost of living adjustments for seniors. Another year of earning 2% on your CDs while paying 6% on your mortgages. Another year of tuition hikes and empty recruitment fairs. Another year of dipping into home equity to pay for it all. Could we see a $600 billion budget deficit for 2004? How many states will go bankrupt? A $1 trillion trade deficit? How extreme can it get before the whole infrastructure breaks apart? We do live in interesting times."
Sounds like the Crash of 2005 is nearing. I have decided, once my business takes off, I will move to Canada ASAP. It may not be pretty, but the US is standing on a one Jenja block...
He says it like it is:
"The United States has become the consumer of last resort. We consume the world's production and exchange it for promises to pay it back in the future. Looking at GDP (our income statement) and the Z-1 (our balance sheet) shows that this fundemental disequilibrium is only growing worse over time. It cannot go on forever and it will end in tears. In the meantime we just have to expect more chaos in relative prices, while "inflation" remains tame. Another year of 10% health care premium increases and 2% cost of living adjustments for seniors. Another year of earning 2% on your CDs while paying 6% on your mortgages. Another year of tuition hikes and empty recruitment fairs. Another year of dipping into home equity to pay for it all. Could we see a $600 billion budget deficit for 2004? How many states will go bankrupt? A $1 trillion trade deficit? How extreme can it get before the whole infrastructure breaks apart? We do live in interesting times."
Sounds like the Crash of 2005 is nearing. I have decided, once my business takes off, I will move to Canada ASAP. It may not be pretty, but the US is standing on a one Jenja block...
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