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To: Haim R. Branisteanu who wrote (56281)	1/10/2001 2:19:17 PM
From: yard_man	Respond to of 436258

cut the guy a break ... would it be in his interest to be quiet about the slowing economy. Is he inheriting problems made by others? You assume he was devious in the SS bit? I think he really wasn't smart on the issue and just liked the idea of less govmnt control ...

To: Haim R. Branisteanu who wrote (56281)	1/10/2001 2:21:26 PM
From: SeaViewer	Read Replies (1) \| Respond to of 436258

Haim, The economy is really weak. It's not someone talking it down. The inflation, the jump in gas price and nature gas price, killed this economy. The average american family has to pay a lot more for energy, which reduce their spending on other things.

To: Haim R. Branisteanu who wrote (56281)	1/10/2001 2:43:58 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

Haim, the pension funds and insurance companies already have their biggest equity allocation in history. if anything, i expect them to cut back, perhaps dramatically so, in coming years. full employment didn't help Japan one bit when the bubble burst. and this bubble HAS burst, there can be no doubt about that. the party doesn't need any spoiling...it's OVER.

To: Haim R. Branisteanu who wrote (56281)	1/11/2001 10:50:19 AM
From: Mike M2	Respond to of 436258

Haim, I have no problem with GWB talking down the economy especially since new era talk has helped fuel this bubble to absurd levels. Excess optimism leads to excess debt and malinvestment. Wall St and the Fed speak of growth and productivity miracles yet they conveniently overlook the fact that much of the productivity miracle is statistical in origin- hedonics and BLS inspired understatement of product price inflation. The profit miracle has been helped by non recurrent events such as the decline of interest rates in the early 1990s, reduction in wages expense via esops, outsized capital gains eliminating the need for companies to make cash contributions to their pension funds. We hear little about how the US borrowing binge has spilled over to the Euro serving to strengthen the US dollar and weaken the Euro. In 1999, the single largest source of demand was corporate share buybacks - great if you want to create paper wealth but buck backs do not create productive wealth it simply inflates the claims on existing wealth. IMO the end result of AG's easy money policies will be to enrich the bankers and insiders at the expense of the public. Mike