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Politics : PRESIDENT GEORGE W. BUSH
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To: Neocon who wrote (172318)8/17/2001 3:59:06 PM
From: ColtonGang  Read Replies (5) of 769667
 
STOCK MARKET TANKING...Bush and republicans can't blame anyone but themselves for the evaporation of wealth in the stock market. Where's the summer rally promised by the conservatives.According to standard economic theory, this loss of savings has reduced the amount of investment in the United States. More importantly, it has been a major cause of our trade deficit, which in turn has led to large U.S. borrowings from the rest of world. At present, the United States is borrowing close to $450 billion annually from abroad. This is money that otherwise could have gone to support investment in the developing world. This implies that people in developing nations are paying a high price because of the stock bubble in the United States.
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