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Strategies & Market Trends : Value Investing

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To: Don Earl who wrote (16275)	1/26/2003 1:59:47 PM
From: jeffbas	Read Replies (1) of 78714

Don, I think that after an unknown amount of time, relating to how much damage is done to the oilfields and how antiquated the equipment is, the number one priority of the administration will be to pump the heck out of the oil fields. The only way to make this work, both in Iraq and for the world economy, is to materially improve the lot of the Iraqi people and materially reduce the "tax" that high energy prices effectively amount to. Bush wants to get reelected and if the economy is no better in a year, he won't, in my opinion. The following article is an interesting observation on the net effects of tax changes at all levels. nj.com Bush is, in my opinion, out of touch with the middle class and is in a perilous political position. I doubt he even knows that most of the middle class will get little or nothing out of the dividend tax cut, as their dividend paying stocks are held in 401-k's or they are subject to the Alternative Minimum Tax. I stick with my long held view that Bush may go down as the Herbert Hoover of the 21st Century.

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