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Strategies & Market Trends : Take the Money and Run
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To: SmoothSail who wrote (10034)7/22/2002 5:55:47 PM
From: Jorj X Mckie  Read Replies (2) of 17639
 
I think that he should point to the debt and flat out state that people need to start paying down their debt instead of spending on unneeded items. There is no way out of this that isn't painful. If we start paying down debt, then retail spending will decrease and cause more weakness, but this is what we need to address the underlying problems in the economy. He should say this and should point out that it is better to pay off debt now before interest rates start rising. He should point out that there aren't too many directions that interest rates can go from here.

And I am not exactly sure how you terminate the employment of an FOMC chairman, but he should take steps to influence that action.

And he should encourage actions that clear up corporate balance sheets. The whole stock options situation is something that needs to be addressed. But since he was backed by the silicon valley contingent, he is unlikely to turn on them. (anecdote time: when i was at CSCO, John Chambers blatantly shilled for GWB in corporate communications).

Like I said earlier, there isn't much that he can do to change the inevitability of the market direction. What he can do is hasten it so that we can start healing the economy sooner. His political career depends on him getting this resolved quickly. If we aren't a year into a recovery at the time of the next election, he will be a single term president.
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