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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (268311)11/24/2003 5:33:08 AM
From: zonder  Read Replies (1) of 436258
 
You recall incorrectly

I very much doubt it. But don't have the time to look up exactly what justifications Bush had for these tax cuts. "Boosting consumption and hence the economy" was definitely one of them.

Reducing taxes raises all boats including consumption spending

Sure. However, what I was trying to say was that aiming tax cuts at the very rich does not help in this regard, for they are not postponing very many consumption items just because their annual income is 750 K and not 900 K.

If you recall, we came to this point because you felt calling for tax cuts aimed at the poor rather than the rich was a communist thing to do.

Based on your implied hypothesis and following your desired conclusion, the risk is unlimited to those who fund government

There is not "implied hypothesis" nor any "desired conclusion. Any government with a printing press has ZERO risk of default in t-bills of its own currency. That is fact. The risk "those who fund governments" take is NOT default risk but currency risk - i.e. what that currency will be worth against others & gold upon maturity.

That is why certain high-risk countries put out EUR and USD treasury bills, along with those in their own currency, incidentally...

>>>You can't have missed the Fed talking down the dollar in the past year or so, though. <<<
I missed it, because it didn't occur.

Grace - I respect you and enjoy following your posts, because I think you are intelligent and well informed. If you are going to insist the Fed did not talk down the dollar over the past year, I'd rather end this line of exchange here so as not to damage that view.
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