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To: marginmike who wrote (43399)	10/5/1999 3:42:00 PM
From: engineer	Respond to of 152472

Not to mention that Clinton is counting on it going on so that he can take all that "extra" money that has been made and give it away in social programs. This is the primary reason that we have not had a tax cut, IMHO, is that they are afraid that if they did a tax cut now, it would also send the market sky rocketing, but then this would give them more taxes as the volume of trades went up.

To: marginmike who wrote (43399)	10/5/1999 3:46:00 PM
From: 16yearcycle	Respond to of 152472

I agree so very much and I am trying to be sensible right now when I am pretty pissed. I feel very strongly that this is horrible mistake. they should have raised or not raised and kept the neutral bias. they are trying to intimidate the market, when there is no need. the dow is at a pe of 18 on next years e. Economies are like living organisms and strong ones can tolerate all kinds of imbalances but markets are more fragile and emotional. they trying to manipulate the market instead of focusing on the economy. therein lies the error. they are trying to deflate a bubble that is small or imaginary, and is fully capable of "deflating" on its own with responsible policy. Only a string of "good" economic reports can keep this from being a huge mistake. This is a clear unforced error by AG.