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Strategies & Market Trends : News Links and Chart Links

SPXL 224.62

+0.2%

Nov 12 4:00 PM EST

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To: Softechie who wrote (5765)	2/14/2003 4:01:20 AM
From: Chris McConnel	Read Replies (1) of 29595

Paul Krugman has only NICE things to say about Greenspin and GWB: "Fed chairmen aren't allowed to speculate about disaster scenarios, so let me do it for you. If the administration gets what it wants, within a decade — or perhaps sooner — the United States will have budget fundamentals comparable to Brazil's a year ago. The ratios of debt and deficits to G.D.P. won't be all that high by historical standards, but the bond market will look ahead and see that things don't add up: the rich have been promised low tax rates, middle-class baby boomers have been promised pensions and medical care, and the government can't meet all those promises while paying interest on its debt. Fears that the government will solve its problem by inflating away its debt will drive up interest rates, worsening the deficit, and things will spiral out of control. " nytimes.com

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