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Pastimes : Trading the markets.....
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To: GROUND ZERO™ who wrote (2169)12/20/2000 5:20:11 PM
From: sandeep  Read Replies (1) of 4583
 
This is crazy. Bush was being deferential. The guy knows that the recession is coming. He doesn't want to take the blame because it's not his fault. How he deals with it should lead to our evaluation of him. Clinton is a rascal. He knows that economy is slowing precipitously. So does Greenspan. Greenie really doesn't get it. In the new economy, 1-2% growth will hurt more than a recession used to in the past. Nobody had any stake in a recession except the job in the past. In the new economy, everybody has a stake in growth and very low growth will look like loss of a job. Clinton probably knows this but is playing with words again. It is quite possible that recession in the classic terms won't come in. But, the pain has already been huge and will be even higher for most people if there is a recession.
Look, if a person had a job in the old days and lost it for a few months, they would get govt help, but the job would be had a few months later. Nothing was really lost because the job really didn't create a huge nest egg. Now for many new economy people, either their dream which looked like reality just a few months ago is no more and probably will never be. This is harsher than a recession. Most people will feel more despair than the old economy recession. I think Bush understands this human aspect better then the current morons running the show who feel your pain.
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