Binge Eating

The Americans have displayed a voracious appetite for borrowing.
In fact, according to a recent AC Nielsen survey, Americans are the worst savers on the planet. Many people now believe that the Great American Bubble, spurred on by the housing boom, will soon burst - which is only to be expected. The Americans are so paranoid these days. Everyone and anyone is suspect. From Bush to Bangalore, all seem problematic. When a person feels that the future is bleak, the obvious thing for him to do is to stretch the present to a limit. And the Americans have only one thing to stretch - their consumerism.

The US budget deficit is at record highs presently. Dick Cheney is busy convincing people that the Federal Government will have higher cash inflows through tax cuts ( such a dud!!). Soon, the bubble will burst and the dollar will depreciate rapidly. The great Omaha - Man, Warren Buffet has anyway lost faith in the dollar. The dollar's other cheerleader, Alan Greenspan is out.

George Bush should tax people so that they spend less. But, he will not do that. When he could see non-existent WMDs, he is well within his atrocious capabilities to ignore the warning signals this time as well. This time the binge eating will only spoil the American appetite.