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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (42036)	2/11/2001 3:37:12 PM
From: michael97123	Read Replies (2) \| Respond to of 70976

Tony, I agree with that assessment 100%. And thats where Greenspan and Bush come in reassuring those folks who are delaying those 2001 budgets. First step is another interim rate cut of at least 1/2%(maybe even 3/4%) to reassure the corporate beancounters about the economies future. Rate cutting should have started in October/November so three half pointers over 5 months is not radical--in fact its just catch up by the fed. I believe that AG will do this. AG/Paul O'Neill alliance in place. "W" won't let the economy do to him what it did to Dad. And lets stop kidding ourselves, the tax cuts are supply side and trickle down and not designed to be immediately stimulative. Part of the price paid for the booming 90's were excessively high marginal tax rates and the use of the surplus to pay down the debt. They were the first 2 protective devices used to control the bubble before high interest rates were called in to burst it. Now in place high tax rates threatens the long term robustness of the economy and concentrating on the surplus to pay down the debt is the worse medicine a sick economy can get. I think we will be OK. MIke