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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (3098)1/10/2001 11:07:34 PM
From: Hawkmoon  Read Replies (1) of 33421
 
Both Wall Street and Main Street are currently exploding bubbles, and the explosions will self-feed, not self-correct until (1) the Fed eases massively, and

I agree with the potentiality of the above.

/or (2) the federal government proactively reduces the budget surplus. Hope I got your attention.

But I don't understand how completely obliterating the US government T-Bill market (paying off the national debt) will bouy the USD.

Treasury Bills provide a safe haven for private capital from around the globe. If that safe haven no longer exists in the US, will they park their money into economies where they can receive government guarantees on their investments?

For that reason alone, I don't advocate paying down the debt completely, but rather placing a cap upon it at current levels and growing the economy instead. Grow the economy and the debt will reduce itself proportionally.

Regards,

Ron
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