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To: Wayners who wrote (123289)	4/9/2001 4:57:06 PM
From: GST	Respond to of 164684

Wayne "I can't really explain today's deficit." I agree with your assessment of the need to boost savings and to maintain sufficient r&d to maintain productivity improvement. As for currency movements, we only have a currency bubble if we do nothing about the current account and trade deficits, and we are not helpless in these areas. Our trade partners are doing stupid things -- it is not just us, and there are "development" issues which have a certain rational basis. But the bottom line is that we have a golden opportunity here to stabilize our economy with a higher savings rate and less stock market speculation. AG should not be managing the US currency to goose-up stock prices, and I don't think he will. One bubble was enough.