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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (54115)	6/14/2000 7:30:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

that is not entirely true...the sooner the bubble is popped, the better in terms of long term consequences.the time period required to enable a recovery to take hold would be considerably shorter. of course, policy makers horizon is limited as well. the long term doesn't elicit interest. see the plundering of the temporary social security surplus in the US in order to be able to brag about a 'surplus', with which to a)buy back debt, b)'save' social security, c)spend freely on one's pet projects (i.e. buy votes, the old-fashioned way) and d) cut taxes. so you are correct, the powers that be will arrogantly believe that they can let the party continue...they are also too chicken to pull the plug as it were. but that only worsens the mess. regards, hb