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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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I remember Greenspan talking about "irrational exhuberence" back in 98, 99...does that count...
I will profer a different interpetation...911 rocked the economy so badly that one, interest rates were lowered I believe 4 times in the 2 weeks after 911 ultimately coming to rest at a 40 year low of 1%. Second the threat of terrorism rocking the economy again was such a SCARY proposition that a FISCALLY CONSERATIVE Repblican President was willing to run a $500,000,000,000.00 deficeit.... to not only insure the economy stabilized but that the threat of terrorism was dimenished.
Remember everybody wants the American consumer to keep on spending...it's 66% of the US economy....and for you to do so you need to be fat, dumb and happy.
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"Some Observer"
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