"We have a dysfunctional global currency and economic system, in which the whole world is set up to sell to the American consumer."
July 30, 2002 4:44 PM Subscribe
"We have a dysfunctional global currency and economic system, in which the whole world is set up to sell to the American consumer." As stocks collapse and banks take hits for their Enron complicity, market skeptics like Prudent Bear's David Tice are getting attention. Bears love ripping into herd euphoria and shady Wall Street practices, but deny any joy when businesses fail. Try the Credit Bubble Bulletin, which points out Enron-style vulnerabilities at institutions like J.P. Morgan, then move to the great 401(k) hoax, the myth of accounting reform and Thailand's so-far successful anti-IMF economic strategy. Things will soon get much worse, promise the investors who sneer at "a fascinating intellectual environment where weak analysis continues to dominate discourse."
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