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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (43488)	1/15/1999 3:18:00 PM
From: Merritt	Read Replies (1) of 132070

MB: As you may remember, I've felt there wouldn't be any meaningful drop in the market until the impeachment process was resolved. Now I'm wondering if Clinton and his cohorts don't feel they can continue to keep this bubble inflated through the end of his administration. <<He has to regularly throw together higher mountains of money and credit to keep this thing going up.>> He doesn't necessarily have to use gov't money; not while there's still all that Social Security moolah laying there. Of course, IMHO, that would be dangerously reckless in this historically over-valued market...but then Clinton isn't really known for his prudent behavior. If he can keep the bubble intact through the end of his term, I kind of think he feels that will rehabilitate his image. When you think about it, "It's the economy, stupid." has been the cornerstone that's allowed his administration to continue to stand. He may well feel that if the market tanks, and the economy shrivels, and people lose their retirement money after he's off the scene...it just goes to show that his successors lacked his economic acumen. Arrogant self-interest has been a hallmark of the man, IMHO, his words not withstanding. Merritt (now with virulence depleted<G>)

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