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Politics : PRESIDENT GEORGE W. BUSH
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To: Neocon who wrote (61034)11/6/2000 5:34:37 PM
From: Les H  Read Replies (2) of 769670
 
I think the severe decline since fall of 1998 may be due to Greenspan's lowering of rates for the Asian crisis. A lot of people refinanced and went on spending binges. Some probably went into the market. The all-time high in home equity loans was in March at the market top.

But it's clearly been going downhill since the tax increases started. Almost all of the tax relief has been directed at consumption activities.
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