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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (1683)	2/7/2001 2:04:52 AM
From: TimbaBear	Read Replies (1) \| Respond to of 93284

How can "Republican fiscal irresponsibilty" have any effect on anything yet? The market is a discounting mechanism. Today's news was factored in 3 to 6 months ago. Similarly what the market thinks will happen 3 to 6 months from now is currently being discounted. Right now the market sees Washington in a feeding frenzy over tax cuts based on revenue projections that are highly suspect. Yet the party in power(read Republican)is (at least publicly)doing nothing to address the markets fear of future deficits from today's tax cuts. Markets don't like uncertainty, so they lose confidence and the market drops(or fails to recover). The budget issues that I hear about causing the most concern are: tax cuts that prove to be too steep; vastly increased Government spending on military and prescription drugs and education; lack of fiscal restraint or prudence. Yeah. The market often is wrong. I'll disagree on that. The market is always right, always, by definition.