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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (173077)8/2/2003 12:49:27 AM
From: tejek  Read Replies (1) of 1573924
 
I have never once accused Bush of causing the Naz to fall. However, I do believe it stayed down as long as it has because of his policies; more specifically his war in Iraq. Stock markets don't like uncertain geopolitical events particularly if the country in which the market is located is the perpetrator.

Bush's international aggressiveness has not provided a stable back drop for the markets. If his aggressiveness had been appropriate, I would not complain but most of its has not been appropriate in my view.

Ultimately, he will be held accountable. The economy has held up not because of his ridiculous tax cuts but because of the low interest rates and the non stop refis people have been doing to capitalize on those rates. Because of the housing boom of the 90s when there were good times, people were able to pull considerable money out of their homes and spend it. That looks to be coming to end now that rates are starting to rise.

When that happens, I think we will descend back into recession. The artificial stimulus which was intended to provide a transitional period whereby the downturn would be cushioned as well as shortened has all but ended. Greenspan had hoped by this time, the economy would have kicked back into gear.

Its not looking that way now and the feds have few tricks left up their sleeves. Because Bush apparently does not have a fiscal bone in his body, he putzed around just a little too long, ignoring the lessons of his father. For a while I thought we would make it but I am less optimistic now.

ted
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