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Strategies & Market Trends : News Links and Chart Links

SPXL 225.98

+1.9%

Dec 10 4:00 PM EST

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To: Chris McConnel who wrote (8708)	9/24/2003 8:45:08 AM
From: Tommaso	Read Replies (1) of 29602

I am sure that's what Bush wants to do, but at some point what can be done by manipulating the economy to make people feel good will be overwhelmed by economic reality (i.e. all these moves tend to debase the dollar, which is terribly overvalued anyway, and there is no way that Bush can compel foreigners to bold dollars or buy treasury debt). A reluctance to hold Treasury debt translates immediately into higher interest rates, and the instant many investors can get a 6% on their money, that's when the stock markets decline by 40% or more. I have to admit that I am amazed at how long the United States has been able to keep these irresponsible polcies in effect. If you are ruch and powerful, it's easy to borrow money until suddenly you are not so rich any more.

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