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To: Knighty Tin who wrote (214370)	1/14/2003 8:12:05 AM
From: Oblomov	Read Replies (1) \| Respond to of 436258

>>Bush Depression Why the "Bush Depression"? You were talking about the coming day of reckoning long before Bush was President.

To: Knighty Tin who wrote (214370)	1/14/2003 8:46:56 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

KT, >we definitely disagree on corporate debt. < I don't disagree with what you are saying. I just think we are already making significant progress at unwinding the problem via all the BK's that have already occurred, debt for equity swaps, scheduled paydowns etc... In the mean time, the economy is still growing nominally and companies in aggregate are still earning money, growing their asset base etc.. There's very little new borrowing going on. Everyone is cleaning up their balance sheet. I guess what I am saying is that I am WAY less worried about corporate debt in 2003 than I was in 2000-2001. >So, we have the Bush deep deficit policy for the Federal govt. < I think we agree on this one, but at least during the bubble some of that bogus activity spilled over into surpluses. By some measurements (the suspect ones (bg)), the Federal government's total debt to GDP ratio is in pretty good shape for awhile. >The States and localities would go to debtors' prison back in the old days.< This is a major mess. (that I might add I knew was coming)My property taxes are going through the roof. My commute to work is going up 33%. Services are being cut. Deficits are huge. :-(