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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: RealMuLan who wrote (22302)	11/23/2004 9:18:44 AM
From: Knighty Tin	Read Replies (2) of 110194

YZ, Forgive the semi-serious answer. Just call me Big Bad Yawn. The first chance at ruining an economy is through fiscal policy. Running large deficits. Piling up debts when rates are low. Sweeping huge unfunded liabilities under the rug. Putting the money you do raise to unproductive projects. Bush is putting us at full risk on fiscal policy. However, many Presidents put us at risk on fiscal policy. Reagan and Johnson come to mind immediately. But they had grownups running monetary policy, the other chance at ruin. No matter how much Reagan screwed up, Volker would counter the worst of his mistakes. However, once we got Greenspan in charge, the many headed hydra of monetary ruin soon popped up its ugly heads. Fortunately, we had two fiscal and tax conservatives as Prez while Greenspan was trying to destroy America. But now he has rates below inflation, credit on super torque, and the dollar in a swan dive with a full-fledged crazy at the fiscal wheel. Neither Bush nor Greenie can destroy America alone. But, together, they have a real shot.

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