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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: zonder who wrote (248172)7/2/2003 2:57:42 PM
From: Jorj X Mckie  Read Replies (1) of 436258
 
(1) "Naturally cleansing organs" get well much sooner with the appropriate medication. That is the basis of the whole practice of medicine, incidentally.

hmmmm, I don't think we are talking the same thing here. But, I will stop the analogy here.

(2) Agreed re necessity of bear cycles, but that does not mean nothing should be done to alleviate the pain and to nudge the economy in right direction with introducing the right incentives into the market mechanism.

I agree that it a path of doing nothing is not necessarily the right path. Removing disincentives like taxes and neutralizing something like the Telecom act of 1996 are a way of removing previous inhibiting interventions.

(3) A tax cut is intervention, pure and simple. Introducing something new into the system cannot be "reduction of intervention". Besides, have you looked into the exact effects of the proposed tax cuts? How long it will take for the extra money to trickle down into the market? Who will benefit?

A tax cut is an action. Po ta to - Po tah to.....I see it as removing negative influences on the economy. Kinda like "cold" is the absence of "heat". As far as how long it will take to trickle down through the system, I don't believe that there is *anything* that can be done that will affect the economy in a rapid fashion. Nor do I think it should. This is one big supertanker, it needs a lot of space to turn.

(3) Re "money supply actually contracting" - What exactly do you mean? I don't have the figures in front of me, but I did look pretty recently and M1 and M2 have clearly taken off. Definitely not contracting. And no, it is not "a function of the natural cycle". It is intervention. (Not saying intervention is necessarily a Bad Thing, mind you, but just pointing it out)


I'll dig up the numbers...or hopefully, Grace will jump in here and give some supporting data that I know she has right at her fingertips.
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