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Politics : Right Wing Extremist Thread -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (3592)	1/26/2001 6:32:52 PM
From: TH	Respond to of 59480

Jori X, I have two thoughts about Greenspans apparent reversal on the tax cuts. The first is just an extension of the original idea you commented on. Greenspan has more data that indicates the extent of the problem is quite severe and rate and tax cuts will both be needed to provide the stimulus. The second idea is right in line with politics. Just as we shouldn't fight the fed, I don't think Greenspan wants to fight bush; unless he has to. Greenspan discussed yesterday that too much surplus was available, and I interpreted this to mean that the government is taking too much out. Will that surplus exist next year? I don't know, but politically Greenspan can keep the peace while serving his own purpose. I do agree that Greenspan has been slow to move. I expected a cut around election time, and with the vote count delay I think many of us thought that Greenspan might have been concerned that his action would appear to be politically motivated. I for one never understood that, but it seemed a fairly common opinion. The only good from about a bubble is on a personal level. And that is I will not fear getting short next time. Watching my analyst buddy lose serious money by being short on Yahoo at the start of the net craze made me a gun-shy short. I knew the numbers were no good and that "old school" was going to come back, but I didn't know when. I just didn't have the guts to do it, and I regret it as a basic investing mistake. In the end the bubble hurts us all. No matter how well protected, the impact of a rapid deflation will be felt by all. I hope we don't blow it up again, but my fears are the same as yours. This of course makes me cautious of shorting at current levels; even for some of the pigs still out there. I might just index trade for a while, but I don't do as well for some reason. Look forward to more posts from you here. Have a great weekend. TH

To: Jorj X Mckie who wrote (3592)	1/26/2001 10:47:22 PM
From: sandintoes	Respond to of 59480

I do find it interesting that AG was actually receptive to the idea of W's tax cuts. Seems like a departure from stuff he was saying a month ago...politically motivated or????? Hi Jorj, I found that very curious myself. One short month ago, he was saying that a tax cut would throw the country into deeper debt, and we needed to keep the surplus to balance the budget. Something happened on the way to the Senate.