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To: Maurice Winn who wrote (33876)	7/1/1999 11:19:00 PM
From: Jim Willie CB	Respond to of 152472

Mqurice, agreed 100%... didnt see your prior distinction of two types of deflation... clear differences, sure one is cost clearing magnus downdraft from collapse and failure... other is reduced cost from new and more efficient I prefer to call them "deflation" for former... and "improved productivity" for latter... I think Fed governors understand the difference... certain that Greenspan does I have another opinion on the whole US surplus... the cost of many things in life just came down: mortgage, corp debt (versus 1994 say), commodities like oil & gas (vs 1994), silver, nickel, copper, even grains... but the cost of governmt has remained high, if not increased until the govt reduces taxes (final frontier for deflation), the FEDERAL RESERVE will step in and reduce interest rates... or the credit markets will do so, and Fed will confirm and sanction the move... the result first seen is inflation of financial assets (stocks, real estate) it is like an exclusive game for the rich to play... dont put more money in lower/middle class pockets because they cannot be trusted... put it in the 10% who own stocks and bonds... like a conspiracy of the rich... who says govt is not "of the rich, for the rich, by the rich"??? what we need is reduced taxes... my corporate stock options taxed at 42-46% is fuxxing absurd... taking home 63% of my salary paycheck is fuxxing absurd... 5.5% income tax in Massatwoshits is fuxxing absurd the USA economy will suffer huge bad consequences if we exercise tunnel vision and work to reduce the federal debt in the next ten years... should an S&P company do the same and spend profits or corp bond buybacks? HELL NO, INVEST INSTEAD, DITTO FOR GOVT GOVT IS THE ULTIMATE INEFFICIENT ENGINE / Dr J