Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: surfbaron who wrote (4692)	8/16/2002 4:50:12 PM
From: Jim Willie CB	Read Replies (2) of 89467

(another thought) when rates rise, US interest cost explodes the USGovt has done the same thing as corporations they have swapped from longterm debt to shorterm debt (fully described by Pimco's Bill Gross -- very handsome man) the Clinton maneuver directly addresses the mindset of a drug addict seeking shorterm results, immediate gratification not just with debt management, but the strong dollar policy Clinton probably was being serviced under the table when he made this short-sighted decision Clinton probably figured that when the debt cost rose, when the strong dollar reverses, his successor would be blamed by all the economic-illiterate politically-motivated numbnuts, of which there are legions when rates rise, and they will inevitably, our cost to service the $6000 billion in debt will rise dramatically even as it will for US corporations my personal expectation is that the upcoming turning point which delivers rising interest rates will be from actions taken by foreign holders of US assets not just stocks, but USTBonds as well Sinclair believes that happens, starting in November we will see outtahere, good weekend to all / jim

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