Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: GREENLAW4-7 who wrote (18243)	1/3/2002 6:44:54 PM
From: Zeev Hed	Read Replies (2) of 99280

Actually, a February decline could be partially induced from misplaced fear of inflation. The talk in February March might very well be "Debt ceiling". The current US Debt ceiling is about $ T 5.950, we are standing right now in the $T 5.932 or so, and due to tax receipt, it may go back down to about $5.910 before it turns up again late next week, or just after 1/15. The way Congress has been acting lately, i would not be surprised to see another fight on the debt ceiling and that is not going to be conducive to a "happy market". When using the national debt figure, you got to remember that about $70 B of the national debt is not subject to the ceiling, and an adroit secretary of the treasury (like Rubin) can easily shift debts from one column to another classifying some debt as not subject o the ceiling. I think we will start and hear more about it soon. I am surprised that none of the articles have been perusing even mention that potential problem. Zeev

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