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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Yorikke who wrote (3194)1/26/2001 7:50:31 PM
From: Moominoid  Read Replies (1) of 33421
 
Greenspan was a major force behind Clinton raising taxes on the rich. He thinks tax cutsa re good now because the surplus is growing so much. This was a signal IMO that he thinks the recession will not be severe and growing surpluses can be expected. Tax cuts to the rich will have less economic stimulus than to the poor so they are a good idea. If the recession was really severe you'd want to give cuts to the poor....

I'm puzzled by all the talk of wanting to keep the dollar high combined with a coming recession. A high dollar is a bad idea in a recession....Lower interest rates will lower the dollar, stimulate export demand and divert some domestic consumption to domestric production instead of imports. Sure, a lower dollar means US residents are poorer but it benefits US production activity.
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