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To: Rarebird who wrote (14003)	3/2/2000 9:01:00 AM
From: Cynic 2005	Respond to of 42523

From that link you posted: trimtabs.com << Margin Debt Real Source Of Budget Surplus. We are also the only one reporting that the surge in margin debt is the real source of the budget surplus. So far over the first four months of fiscal 2000 ending January, the budget surplus was $40 billion -- due entirely to a $40 billion gain in income taxes collected -- both withholding and capital gains. Margin debt over those four months is up over $60 billion. Without that $60 billion, the stock market would have plunged starting in November disappearing most of the stock market gains. Without the stock market gains, the gain in income tax collections would have been "at least" $20 billion less. We say "at least" due to the multiplier effect of market gains on the incomes of deserving Silicon Valley real estate brokers, Ferrari dealers and Armani clothiers. What a trade off -- less government borrowing for more margin debt. We don't think that anyone in political Washington is as yet aware that margin debt is the real source the budget surplus. At least several of the official economists we talk to said they were not aware.>>