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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (28685)3/11/2000 11:39:00 AM
From: nihil  Read Replies (2) of 64865
 
I think the best reason to vote for Gore is the quality of the commitment to human rights that his candidates for the courts will offer. Bush's commitment to imprisonment for minor drug offenses, capital punishment, and educational discrimination strikes me as the most dangerous threat to freedom and equality in the United States that now exists.
Moreover, the idea of cutting taxes instead of solving the Social Security funding problem and reducing the national debt appears to me to be fiscally imprudent in the extreme and mere pandering to the rich. No one will benefit more from sound finance that the rich, as they have during the past seven years. To risk the health of this vibrant growing economy in order to attract the votes of the most fortunate and favored beneficiaries of this period is destructive.
Finally, Gore will be committed to guaranteeing medical insurance to everyone.
I am, of course, like most others here, a greedy rich person. I am also an experienced economist. I have always wondered why the economy collapses into recession or depression during Republican administrations and grows so rapidly during Democratic administrations. I think economists and even some officials understand quite well what causes recessions and inflation. To talk of a big tax cut when the economy is operating over capacity (as it is now) is to guarantee inflation. Any reasonable economist of almost any persuasion would propose a tax increase rather than a tax decrease now. No sensible politician would even suggest a tax increase, but one worth electing would not propose a big tax cut. All investors can see the effect of using monetary policy exclusively on the economy. The Fed has crushed, is crushing, and intends further to crush the stock markets into collapse. It happens that most big tech stocks are immune to the direct effects of higher interest rates because they owe nothing, and in fact make more money on their short-term investments when interest rates go up. Monetary restraint cannot stop the big techs until it forces the entire economy into a steep recession. As a greedy rich man invested almost entirely in big techs it is in my personal economic interest to oppose both the Fed's restrictive monetary policy and the irresponsible and inflationary fiscal policy of Bush and the House Republicans.
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