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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Lucretius who wrote (51440)7/13/1999 10:23:00 PM
From: Terry Whitman  Read Replies (2) of 86076
 
Hoho- You catch tonight's Rap?

>Some advice for Summers... Along that line of describing how the present prosperity is a bit illusionary, Joanie had this take on what Larry Summers, our new Treasury Secretary, had to say last night. He basically told Europe that it should boost domestic demand, and at the same time he wants us to have a strong dollar. She suggested the following:

"Perhaps he should just come clean with these geeks and tell 'em how we did it. Flood the system with money; jam the stock market up; bail out any mishaps along the way, virtually removing risk from the investment equation for certain players; set the U.S. consumer into a buying frenzy while allowing him to be brainwashed that stocks never come down; make up some whopping job creation numbers; let bankruptcies and revolving credit hit record after record, and last but not least, convince the world that you are running a monstrous surplus.

"He may want to leave out the part where this 'surplus' has been extrapolated over many years, causing political argument over just how the forward 'surplus' should be 'spent,' as even Newbies have gotten a chuckle or two out of that part of the farce. But the bottom-line question remains the same as it did with his predecessor. "Which way do you want it, Larry?" Talking the buck up while demanding that these poor geeks find another market for their goods away from U.S. shores didn't fly then and it surely won't fly now. It's later in the game than we think."
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