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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (75241)	2/5/2000 6:27:00 AM
From: Earlie	Read Replies (4) \| Respond to of 132070

SB; Normally, I would agree with your point of view about Greenspan's printing press response to any problems. But there are some stark realities that will make this difficult to do now. No massive supply of cheap loan money from Japan. The Euro, while not yet "seasoned" will very soon be accepted as an alternative and much better reserve currency (better primarily because it isn't carrying the massive debt baggage that weighs down the U.S. buck) The treasuries are under selling pressure The bond vigilantes are saddled up and riding. The trade deficit simply cannot be turned off overnight. Both corporations and consumers are already saddled with far too much debt (more liquidity just exacerbates this). He has very little wiggle room now, unless he wants to turn the U.S. into another Weimar Republic. Best, Earlie