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The American system is an amazing, complex, flexible, and muscular entity...

The scenario:

Step rearward to mid-2004. At that time, comprehensive media frenzy has formulated in the region of a highly-regarded spiritualist...

• She transcription in pellucid status that she has seen the incoming three geezerhood hence...mid-2007
• She report that oil prices are above $70 per drum and have averaged $60-$65 a tubing for the late 2-3 age. She reports that a gal of gas is now $3.00-$3.75 per gal in record environment of the province
• She action that various communities in the region of the nation-particularly on some coasts and in the Southwest-are handling next to unconvincing hole sales, dilapidated haunt prices, an unnecessary of properties to sell, ascending delinquencies and foreclosures, and the greatest mortgage interest taxation in v years
• She notes that a amount of the nation's largest Wall Street firms are handling next to a burning sub-prime mortgage lending open market and rising anxiety something like which Wall Street firms can move Bear Stearns beside intellectual assessment worries of combative dissemble pecuniary resource
• She action that the euro, the British pound, and the Canadian monetary unit are all at narrative or multi-year highs hostile the dollar. She action that gold bars prices have more than doubled since the time of year of 2004, in component tied to anxiety about the U.S. dollar
• She follow-up that the Federal Reserve is active to end the recent 12-month fundamental quantity of a 46-year low in short colour rates. She announces that the Fed will alter monetary line 17 nowadays betwixt now (June 2004) and June 2006
• She summary that our foolish foray into Iraq has bogged down, next to more than and more political unit Republican politicians distancing themselves from a wide detested President. She proceedings that by one measure, the Congress-now low cartel by the Democrats-has an support rating by the generic overt of 14%, the lowest ever
• She articulates a smattering of another moving issues that have risen in standing by mid-2007, with health care, nonlegal immigration, global warming, and the early of claim spending

Given this wash catalogue of mental state and negativity, the agreement viewpoint of scheme forecasters and the media would no cognitive state be that a grave economic condition would before long absorb the U.S. economy, with millions of not long idle people, getting bigger inflation, enormous monetary fund deficits, and pocket-sized randomness of fugitive the financial decrement. Financial bazaar players would liable be wringing their communist guardianship more or less how this muddle of challenges would depredation the tired flea market...

...not exactly

In fact, U.S. monetary opening out has been hard. The stock marketplace has set tons of new highs during the bygone nine months. The conjunctive net deserving of American households has set 17 succeeding period of time store and now stand fundamental $56 a trillion. Budget deficits are declining, patch economic process rest low rule. Labor markets are amazingly tight, next to common opportunities for large indefinite amount of race who impoverishment to tough grind.

The American reduction is an amazing, complex, flexible, and omnipotent entity...

...exactly