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Politics : Ask Michael Burke

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To: Merritt who wrote (43535)	1/15/1999 3:56:00 PM
From: Knighty Tin	Read Replies (1) of 132070

Merritt, Using Social Security money or having Fannie Mae or Freddie Mac make bigger gambles may not be using govt. money, but it shows up in the money supply figures. The growth rate in these figures for the past year is already 20-50% higher than it has been at any time during the 1990s. And he cannot hold the growth steady at even these soaring rates. He has to grow more. Remember, the mini trade off in stocks this summer took place while the Ms were growing at a rate equal to the peak growth rates in 1995-1996. He has to goose it and goose it forever, and the trade deficit, bond rates and the buck just won't allow that. In fact, I think he will have trouble maintaining this growth rate. MB

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