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Politics : Formerly About Applied Materials

AMAT 261.81

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Dec 26 3:59 PM EST

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To: michael97123 who wrote (48383)	6/27/2001 9:23:36 PM
From: Jerome	Read Replies (2) of 70976

* $40 billion consumer rebate Michael..... Mike Your viewpoint about this effecting the economy is absolutely correct......no point in being ambivalent about the matter. Katherine pointed out that this was only .4% of GDP. (That would be an annual rate). But the tax refund is going out in a three month (or four month) period so the effect will be magnified to 1.2% of GDP for those months. Katherine made the point that this is not new money and would be spend by the government if it were not returned to the people. This is not really true. If consumers have the money in their pockets it will go into circulation immediately. If the government has the money it make take a few years for it to work its way into the economy. (depending how fast the congress and special interest groups act).. This is essentially the argument that Roosevelt made when he wanted to send each family in America a monthly check to get the economy going. (He knew that they would spend it immediately). Republicans killed the plan. Some years back I read that if the government spends a dollar then about 70% to 80% of it will reach main street America. But if and individual spends a dollar on main street America then that dollar has the effect of two or three government dollars. I have no links to back this up but this idea is not often refuted. OT President Hoover * The Great Depression **** The past few days I spent at West Branch, Iowa.... reviewing the materials in the Hoover Presidential Library.... This about the third exit from the Illinois border, on Interstate 80. Well worth the time for those interested in history and the depression era. Its well known that I'm a rabid Democrat (the worst kind available). But Hoover is one of my favorite presidents. Single handedly he rescued about 3.5 million Europeans from death by starvation. (He very efficiently ran the rescue operations for Europe after WW1) He was a great American in spite of what the History channel says about him.He was a very high tech individual that is credited with setting up the first radio licenses when he was Secretary of Commerce, and also the first President to appear on TV (but who was watching?) Regards, Jerome

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