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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Frank Pembleton who wrote (15403)	2/22/2002 11:59:38 AM
From: mcg404	Read Replies (1) of 74559

re: Running a deficit for welfare is stupid, but financing capex isn't all bad... Frank: I agree this is a better way to frame the debate than simply debt is good or bad. Maybe better to say the inter-generational transfer of debt is appropriate when the benefits (use of the road or what ever infrastructure you borrowed to build) is also inter-generational. john

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