Re: tractor prices the economy for this year

Posted by NEsota on March 15, 2005 at 22:16:23 from (4.159.11.31):

In Reply to: tractor prices the economy for this year posted by havvey on March 15, 2005 at 06:39:17:

About a year ago our V.P. said; "Deficits don't matter". The Administration has approched taxing and spending like they do not. I disagree. Paul Volcker, former Chairman of the Federal Reserve and not prone to make exaggerated statements maybe six months ago said; "I think we are within five years of an economic disaster". Warren Buffet, the investor I most respect, has been letting money pile up because he doesn't think this is a good time to be buying stock or commodites.

I understand that the U.S. has gone from having net foreign assets equal to 9% GDP in 1978 to net liabilities equaling 27% now and there is no historical precedent for such a large economy being so heavely in debt to the rest of the world.

Back to tractor prices, my thinking is that before the economic bubble breaks, there will be a lot of inflation, if so then it's probablly better to own something other than money. Personally I would not bet everything on antique tractors but what do I know? The things mentioned above are things I would consider in making a prediction but would most likely not make the top ten things to be considered by folks smarter then me.

Follow Ups:

• Re: tractor prices the economy for this year havvey 05:28:32 03/16/05 (0)

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