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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (8719)	10/22/2002 7:12:54 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 57110

And when you think that the people that are in tax free bonds are likely those closer to retirement or in retirement, that can really harm a segment of the population that can't weather hardship well. And they bought those bonds because they were safe. I think that this means that we can pretty much count on more state and local taxes.

To: MulhollandDrive who wrote (8719)	10/22/2002 7:15:55 PM
From: Alan Smithee	Read Replies (2) \| Respond to of 57110

Posted by Susan G on the Trendsetter Thread: Since November 2000……... • Some 1.3 million more Americans below the poverty line. • An additional 1.4 million people without health insurance. • Unemployment up 2 percent and long-term unemployment almost doubled. • Overall economic growth at 1 percent, the lowest for any administration in 50 years. • The value of Americans' stock holdings down $4.5 trillion and a 30 percent drop in the value of IRAs and 401(k) plans. • A projected budget surplus of $5.6 trillion converted into a deficit of $400 billion. • Some $2 trillion transferred from Social Security taxes to the non-Social Security budget. • And 45 of the 50 states struggling with budget problems that are forcing program cuts or higher taxes. And one I can add, July 2002 fund outflows (approx. 52 billion if I remember correctly) now the largest outflows for a month in history. Message 18111044