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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: nsumir81 who wrote (18947)	12/9/2002 6:57:22 AM
From: LTK007	Read Replies (5) \| Respond to of 30712

<<to the day that O'Neill quit.>> been reading NYT on sequence of events. O'Neill was informed by Cheney Thursday night that the Administration was not happy with his performance and that his resignation is requested immediately.(They were already digesting the Employment Report i am sure). O'Neil was hurt and angry. He simply wrote a 3 word resignation(i don't know what the 3 words were). In the mean time the same is going down with Lindsey. So come very early Friday morning Bush had the "resignations" in hand. Primary reason regards O'Neil was the Administration is going to "wow" the public with a major stimulus package proposal and O'Neill wasn't in agreement with it. They want in his place someone who will pound the table and pull all strings and fight to get the stimulus package the administration wants pushed through congress. The hard facts, Stephen Roach is dead on right, as the lie to the public was a relentless , there will be NO duoble dip recession; the fact is they see that is there is one right around the corner(and some say it is already is in place). The stimulus package as i see it thus far is all QUICK FIX, the future be damned. Only element that makes real sense that i know of thus far, is to get rid of double taxation on Corporate Dividends. i hate anything that is double taxation. This alone would reduce Fed Income 75billion a year. So the irony of ironies the Republican party is going to have to sell all on an every increasing National Debt is good:) BTW, States can't get way with this, and they are being forced to cut pack spending to the extreme or else raise state taxes. There is crisis after crisis on the state level regards budgets. Futures have been slightly red and stable for sometime.(they just dropped to SPX 908.5/NDX 1060.50 and DOw 8613) Max