🚀 go-pugleaf

In article <1993Jan12.013500.5339@adobe.com> hamachi@adobe.com (Gordon Hamachi) writes:
>Gordon Hamachi writes
>> I read the book and it scares the hell out of me.
>
>Figgie's "Bankruptcy 1995" still scares the hell out of me, but for an  
>alternative view, see Business Week, January 11, 1993, p. 14.
>
>The reviewer says:
>
>        His predictions of economic ruin are, frankly, silly.  If the deficit
>    goes unchecked, he anticipates a currency collapse, widespread bank
>    failures, massive layoffs, cuts in Social Security benefits, and
>    hyperinflation.
>
>        I would like to make Figgie a little wager.  I will bet him a year's
>    pay that by 1995, the annual deficit will still be in the neighborhood of
>    $150 billion to $200 billion, and even so, our currency will be strong,
>    inflation will be quite modest, and the U.S. economy will be, overall,
>    healthier than it is today.

I have to read this!  Look at paragraph one:  "If the deficit goes
unchecked, he anticipates...."  And then paragraph two states
(in essence):  "I bet that if the deficit _doesn't_ go unchecked,
what he anticipates won't happen."

Further, the reviewer's characterization of the (present) deficit as being
in the neighborhood of $150 billion to $200 billion is ludicrously low.

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