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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Yorikke who wrote (3196)	1/27/2001 12:01:02 AM
From: Moominoid	Read Replies (1) of 33421

I'd like to read the info on that, always ready to change an opinion. I've been reading extracts (published in Aus. Fin. Review) from the biography of Greenspan that just came out. It's titled Maestro. f tax cuts to the rich will have less economic stimulus than to the poor(er) and this makes them a good idea. Then you are implying that AG does not want to see the tax cuts do much in the way of helping the economy? Kind of a fake right go left? He admitted a tax cut won't be bad if we are in a recession but would prefer to use monetary policy. If the debt is paid down very fast that could lower longer-term interest rates and force him to cut the short-term more than he'd like I think. Eventually there is a limit to desirable debt-cutting. You need some government debt out there. If the dollar begins to weaken, the large hoard of foreign capital will have much greater incentive to flee (back) to European and Asian financial centers. The capital inflows rammed the dollar up so high that people like me are waiting for the dollar to fall before investing again in the US. David

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