Devine, James wrote:
I wouldn't be surprised if the company suffered from a whiff of Ponzi, i.e., that their stock-market value is dependent on the growth of the number of the suckers -- I mean, customers -- for their credit cards. But that number can't keep on increasing, especially in these days of excessive consumer debt.
People have been saying things like this since the 1970s, yet debt continues to rise. Why is it different this time? (It may be, but I'd like to hear why you think it is.)
Doug
- [PEN-L:28305] Re: reformism, (continued)
- [PEN-L:28305] Re: reformism, Michael Perelman Mon 22 Jul 2002, 17:15 GMT
- [PEN-L:28323] Re: Re: reformism, Chris Burford Tue 23 Jul 2002, 06:39 GMT
- [PEN-L:28351] Re: Re: Re: reformism, Michael Perelman Tue 23 Jul 2002, 15:04 GMT
- [PEN-L:28301] RE: positional goods, Devine, James Mon 22 Jul 2002, 16:20 GMT
- [PEN-L:28302] Re: RE: positional goods, Doug Henwood Mon 22 Jul 2002, 16:30 GMT
- [PEN-L:28300] positional goods, Ian Murray Mon 22 Jul 2002, 16:13 GMT
- [PEN-L:28306] Re: positional goods, Michael Perelman Mon 22 Jul 2002, 17:22 GMT
- [PEN-L:28299] Honda to boost low-cost motorcycle exports from Asia, Ulhas Joglekar Mon 22 Jul 2002, 15:42 GMT
- [PEN-L:28298] re: Stock market collapse graphic, topp8564 Mon 22 Jul 2002, 15:37 GMT