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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: David Howe who wrote (79741)	7/9/2001 2:03:37 AM
From: exeric2	Read Replies (1) of 99985

I hate to say this Mr. Howe but your dead wrong if you think the previous administration caused "this recession". There is a combination of causes of the slowdown. Number 1, is the implosion of the bubble. Mr. Clinton did his part on his end by reducing the size of the deficit. Alan Greenspan did not help things though. He should have raised interest rates EARLIER and we would have had less of a bubble to deflate. He also would have not had to raise interest rates as much he did if he had started earlier. Remember the irrational exuberance statement -- he tried to talk down the market instead of using his power to curb it. It didn't work! The second problem is that Bush has no credibility regarding finance. He wants this big tax cut and says we can afford it. Yea, right. Now he wants to increase the military spending. Am I missing something but when I do a little mental figuring -- lower tax receipts now, more money returned to taxpayers, more money to military -- it seems to me that we are going right back to deficit spending. Want to know why long term bond rates are going up while AG lowers short term rates? You got it -- government policy under Bush doesn't add up. You may not like the messenger with American Spirit but on the basics he is dead right. Sorry

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