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Gold/Mining/Energy : Gold Price Monitor
GDXJ 107.29-0.9%Dec 2 4:00 PM EST

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To: Bobby Yellin who wrote (38332)8/4/1999 12:52:00 PM
From: Rarebird  Read Replies (1) of 116791
 
Here's a good lie as reported by Reuters: "In fiscal 1998 ended last Sept. 30, the government had a surplus of $69.2 billion. So far in the first nine months of fiscal 1999, the surplus is running at $53.6 billion."

If you look at the FRB site, you'll see that the Federal Debt increased from September 97 to September 98 by $113 billion. Morover, instead of the surplus increasing by $53.6B so far this year as stated by Reuters, you'll notice on the FRB site that the deficit actually increased by over $112B during the same period.

Summers is up a creek and he knows it.

stls.frb.org
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