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

To: Don Lloyd who wrote (75255)	2/5/2000 11:49:00 AM
From: dave rose	Read Replies (1) \| Respond to of 132070

<<<<In the intermediate and long run, US government and consumer debt, and the current account deficit, all pale in omparison with the unfunded liabilities of the entitlement programs as the US moves deliberately along the trail blazed by Europe over the last century and a half.>>>> Don: Do you think we can pull ourselves out of this spiral? The likes of the Republican Party does not give me a lot of hope. They may slow it down but nobody is looking to reverse the trend. daverose

To: Don Lloyd who wrote (75255)	2/5/2000 11:52:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Don, I agree that unfunded future liabilities are a problem but gov't can simply pay these promises with cheaper dollars or breach the contract -they have done it before with the dollar and gold. Clinton & the democrats demonized the Republicans for wanting to cut social security and Bill Clinton taxes SS - taxing an entitlement has the same effect as cutting it but the liberals in the press who love draft dodgers don't see it that way. What really gets me about Clinton is for someone who did not like war he sure is quick to use military muscle when it suits his agenda. Your comments are RAZOR SHARP as usual. Regards Mike

To: Don Lloyd who wrote (75255)	2/6/2000 8:13:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

Don: While there are some aspects of what you state that I can agree with, much of it I don't buy. We will have to agree to disagree. The Europeans do have more socialism in place, but there has been considerable change. What they don't have is several decades worth of debt spread knee deep around the globe and then another layer of greenbacks on top of that. My point is that as the buck comes under fire (and it is already) the Euro will be seen as a viable alternative. As an aside, for this observer, gold is a better alternative than any paper currency. Best, Earlie