Richebacher's comments

[Enrique Diaz-Alvarez]

Well, I am  new at glooming and dooming, so I didn't know that. However,
the debt explosion in combination with the stock market bubble *is*
unprecedented, isn't it? I know you are trying to be extra careful about
predicting anything, but do you see any way that this can resolve itself
that doesn't involve fairly drastic retrenchment of consumption and
growth together with systematic defaults and debt writeoffs?

Greenspan seems to think (to the questionable extent that he understands
what's going on)  that it's all OK 'cuz technology  (which he knows
nothing about, not even as a user) will make us free. Do you agree with
him?

Enrique

Doug Henwood wrote:


> Enrique Diaz-Alvarez wrote:
>
> >This Richebacher fellow seems
> >reasonably intelligent.
>
> He's also been saying stuff like this for at least 20 years. Maybe
> he's right this time.
>
> Doug

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