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Strategies & Market Trends : New US Economy Policy
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To: mc who wrote (92)12/11/1997 3:40:00 PM
From: Arthur Tang  Read Replies (1) of 435
 
Thank you, Gary. My father had lunch with Mr. greenspan and Mr.Erickson and Mr. Rockafeller(David) who is still alive. Knows Mr. Greenspan as a young fellow. Chief economist was his title at Chase Bank. Mr. Greenspan started the 9% interest rate at Feds during the Nixon administration; and caused the wage and price control. Remember the wait at the gas pumps?

I helped Mr. George Bush to lower the interest rate at the Feds after Mr. Volker left. As you know the Feds are independent and Presidents can not influence them.

The new economy policy is not the regular macroeconomy. Labor at the supermarket is now changing to elders and kids to certain extend. The labor market is not yet tight; because the wages will compete with social security payments. Government surplus will be by the reduction of social security receipients and reduced heath care needs. Elders are healthier than ever; what with good food, good company, and good living?

Asia disasters are now looking up to our mass distribution economy. They will be fixed not by IMF but by their own efforts rebuiding their capital. Closing banks and auction off everything will destroy their economy beyond repair. We have fixed the banks here during the Bush administration. We are doing rebuilding capital via Stock market; and next year will be doing land developments.

Love your statements, but they are old views. This country now is very much different, and hope you have enjoyed it. Leave the driving to us.
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