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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (19445)	5/21/2003 9:11:02 PM
From: abuelita	Read Replies (2) \| Respond to of 89467

'The final destination will be gold and silver with silver representing the greatest opportunity. Now the smart money has been going into the euro and gold. Smarter money is going into silver.' ... do you believe it scoot? -r

To: Mannie who wrote (19445)	5/21/2003 9:53:52 PM
From: Jim Willie CB	Respond to of 89467

big Asian surpluses are going blindly into TBonds and Fannys the key to TrezBonds is that principal doesnt rise much when rates go from tiny to near zero but the loss if rates rise is large and the currency translation hits again for loss just read the Duncan summary of Asian recycling fascinating looks like yet another Mother of All Vicious Circles either the dollar will decline so badly that our trade gap will actually close OR our federal debts will rise so badly that we will not be able to pay the interest EITHER WAY, THIS CONTINUES UNTIL SOMETHING BREAKS that is what Duncan said he left out something eventually the dollar will decline so badly that Japan will have to begin repatriation during default resolution that will unleash import product price inflation coming from Asia if China ever wanted to kill us, they will get their chance just raise the yuan by 25% and watch consumer prices jump here in USA this Mother of All Vicious Circles will send us into the liquidity trap, even with the serious advent of imported price inflation I HAVE BEGUN TO BELIEVE AN INFLATIONARY RECESSION HAS ODDS 10:1 IN FAVOR WITH AN INFLATIONARY DEPRESSION NOW ODDS 2:1 IN FAVOR ALSO ours will be a NIGHTMARE STAGFLATION first, the effect on real estate will be absolutely queer prices will rise and rise and rise but properties will sit on the market eventually, total idiots will purchase with Fanny funding then in a year or so, Fanny Mae will be annihilated I mean lose 75% of its stock value I mean show 20% default rates real estate will then undergo a 30-40% correction by 2008 that will bring about a painful endless recession the effect on gold will be unbelievable simply incredible not if, but rather when gold will rise strongly not whether, but rather how high Asians will begin the bidding, transforming their COMPETITIVE CURRENCY DEVALUATION game into a COMPETITIVE GOLD BIDDING game !!! they will lap up the American Economy's blood !!! I say gold will surpass $1000 and silver surpass $40 when the dollar closes on 60 on the trade weighted index by 2005 but it will not stop until 2010, hitting $3000-4000 with no trouble whatsoever both Asians and American/Europeans will bid it up the price inflation will be terrible this is the Weimar Argentina outcome I described we will not have the tranquil Japan Liquidity Trap as an option I will be at the Florida beach somewhere making friends with young girls and sharks in the water all this experience with financial sharks will pay off / jim p.s. anyone who thinks this is crazy, check posts last May-June-July then raise the bar on credibility then paste this message on your friggin fridge and get back to me in one year

To: Mannie who wrote (19445)	5/21/2003 11:43:58 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Two of America's Richest Assail Bush Tax Cut Tue May 20, 5:23 PM ET NEW YORK (Reuters) - You would think two of the wealthiest Americans would have no problem with a tax cut that would put thousands, if not millions, of dollars in their pockets. But billionaire investors Warren Buffett (news - web sites) and George Soros, Nos. 2 and 24 on Forbes Magazine's list of the 400 richest Americans, both railed on Tuesday against President Bush (news - web sites)'s plan to deepen income tax cuts and eliminate taxes on corporate dividends. Bush, who has campaigned around the country touting the plan as a way of creating jobs and boosting stock prices, is pressing for final agreement this week as Congress wrangles to fit the package into a $350 billion limit set by the Senate. In an opinion article in the Washington Post, Buffett, the chairman of holding company Berkshire Hathaway, said he already pays about the same income tax rate as his receptionist -- about 30 percent. But Buffett said with the planned dividend tax cut, he conceivably could pay a mere 3 percent in income taxes. Recalling President John F. Kennedy's declaration that Americans should "pay any price, bear any burden" for the country, Buffett said a 3 percent income tax rate "seems a bit light." "Supporters of making dividends tax free like to paint critics as promoters of class warfare. The fact is, however, their proposal promotes class welfare. For my class," wrote Buffett, whose wealth is estimated at $36 billion. Soros, renowned for both his swashbuckling speculative bets on currencies as well as his philanthropic work, dismissed the tax cuts. He said they would not revive the U.S. economy in the short-term but were only aimed at helping the rich get richer. "This move is designed not to have much impact now. It's designed to have an impact over an extended period and it's basically using the recession to redistribute income to the wealthy," Soros said in an interview with financial news network CNBC. "I think that is really not a very effective way of using a deficit," said Soros, whose wealth is estimated at $6 billion.