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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Stephen who wrote (1931)	12/15/1998 5:15:00 PM
From: space cadet	Read Replies (2) of 99985

Stephen, we Americans have learned a lot more about impeachment recently than most of us knew before. For example, I learned recently that Andrew Jackson was impeached on purely political trumped up charges, which I never knew. As for your issues: a) negative tone- big deal: this means nothing, and will pass quicker than Monica Lewinsky becomes a trivial pursuit answer (incidentally can any of us americans remember who was that bimbo that caused Hart to drop out of the presidential campaign? All I can remember is that one of those women- I think it may have been Oliver North's secretary- was a real babe). b) lame president and congress: it's a lame president by definition with or without impeachment. Anyway the fact that they might not do much this term is considered a plus not a minus by the market. The market loves the status quo and is afraid of anything changing, even sensible good things like lowering taxes. c) we definitely will have increased problems with Iraq. But we would have that with or without impeachment. That is no doubt the most serious foreign policy problem and one that Clinton has miserably failed at. Until we get serious about Iraq and take him out he will not go away. Both Clinton Bush and Congress deserve endless blame for this one. It has absolutely nothing to do with impeachment however. And yes, the market likes Clinton, Greenspan, Rubin though I can only stomach Greenspan myself. The other two are basically anti-free market in their philosophy. I find it ironic that such prominent anti-capitalists are so loved by the market. And as to the Senate actually removing Clinton, it will never happen. This whole proceeding is completely party line and only the Dumbocrats can remove slick willy and they won't do it. Incidentally I find it ridiculous that some people are now blaming the Republicans for refusing to allow a vote on censure. In the 80's when the Dumbocrats ran things they used similar tricks to defeat the balanced budget amendment even though most congressmen of both parties wanted the amendment. That cost the average american untold dollars a year in extra taxes and was a real issue unlike this phony impeachment nonsense. I think the only reason we are talking about it is the media loves it and what would they find to talk about if it disappears?

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