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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (134448)	3/12/2001 5:20:44 PM
From: Scumbria	Read Replies (1) \| Respond to of 1589097

Tim, The Bush election NASDAQ rally was quite impressive, and it is starting to look like the tax cut rally will be even more spectacular. Wall Street has a lot of confidence in the abilities of our new leader. Scumbria

To: TimF who wrote (134448)	3/12/2001 6:51:27 PM
From: tejek	Read Replies (5) \| Respond to of 1589097

Tim, Rather than go thru your bullets point by point, let me just say that the tax cut was sold on the basis that "the economy is in big trouble and we need to do something major". He is pushing the tax cut because, like kissing babies, it endears you to the masses quickly, and 'helps' people forget about that ugly time in Nov. As for the fear factor, he is president....everything he says has significant impact. We had the Naz in a major correction mode for most of last year.....when the election fiasco occurred,the first thing the Reps said is that, if we didnt' resolve the election quickly, the economy and the markets will worsen significantly, playing into people's concerns over the Naz correction. Then, after conclusion of the election when no post election rally occurred, Bush comes along and says we need a tax cut, saying that the economy is in much more serious condition than he had thought. Now what do you think that did to consumer confidence. It was during this period that the consumer confidence indicators began to plummet. Forget that the economic data has come in consistently better then the economic view suggested by the White House. The public view has been and continues to be...what does Bush know that we don't? Since then, Republican pundits and economists continue to fuel these fears and now those fears are becoming self fulfilling. This is evil sh*t and you can maintain your partisan view but don't be surprised if we do get into a recession needlessly. The major difference between a recession and expansion is consumer psychology.....and consumer psychology is worsening. You are right about a tax cut...it will not determine whether we have a recession or not....and that's why its a needless expenditure of energy and an unwanted distraction at this time. ted