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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (33948)5/19/2003 11:25:16 AM
From: Joe S Pack  Respond to of 74559
 
They are retooling the printing press to make it faster than the current rate of production.
This is what that crook AG called "productivity increase".

biz.yahoo.com
Reuters

Treasury Takes Actions to Avoid Debt Cap
Monday May 19, 10:17 am ET

WASHINGTON (Reuters) - The U.S. Treasury on Monday announced more steps to avoid piercing the federal government's $6.4 trillion debt cap, further upping the pressure on Congress to approve a large hike in the debt limit.

In a letter to House of Representatives Speaker Dennis Hastert, Treasury Secretary John Snow said he was further extending a "debt issuance suspension" period to Dec. 19 from the previous July 11 deadline. This move will free up room of about $20 billion beneath the limit and give the government enough cash to operate "until on or about May 28," according to the letter.

That should likely allow Treasury to resume short-term bill auctions scheduled for Monday and Tuesday. The usual announcement of Monday's auction details was postponed on Thursday because of the debt limit issue.

The House has passed a $984 billion hike in the debt limit as part of a budget package but the Senate has yet to act. Senate Majority Leader Bill Frist, a Tennessee Republican, said he expected the Senate to take up the issue this week.



To: TobagoJack who wrote (33948)5/19/2003 2:04:08 PM
From: AC Flyer  Read Replies (3) | Respond to of 74559
 
Jay:

Thank you for your sincere (?) though misplaced concern for my portfolio. I am managing said (100% long value-oriented US equities) portfolio in laissez-faire style with no change now since last July. The result - about 6% below the all-time high reached in early 2002.

I am expecting the balance of 2003 to be good, perhaps very good, for those who are similarly positioned.