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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (437582)	8/3/2003 9:47:05 AM
From: Kenneth E. Phillipps	Respond to of 769670

JDN, I have been self employed for 30 years and therefore, have no fear of losing my job.

To: JDN who wrote (437582)	8/3/2003 11:57:01 AM
From: gerard mangiardi	Read Replies (3) \| Respond to of 769670

You are wrong on 2 counts. Interest rates are way off their lows and energy stocks are at tenuous levels. There are factors at work which could push rates up another 50 basis points in the next months. Refinancings of homes are coming to a screeching halt and that has been a major prop for consumer spending. It is looking more and more like a classic Keynesian liquidity trap.

To: JDN who wrote (437582)	8/3/2003 2:03:49 PM
From: AuBug	Read Replies (2) \| Respond to of 769670

JDN, Your arguments that the economy is improving are specious. 1. Inventories are low and will get lower because people realize that not only can they get what they need cheaper later they may even get more of it or a higher performance. 2. Dropping interest rates have only served to increase people's debt load and greatly increase the risk they're taking. As mortgage rates rise and housing prices begin to drop they'll feel the pain. Lower rates have failed to stimulate the economy but rising rates will devastate it. Take a look at the bond market and consider the impact the drops in bond mutual funds will have on all the people that thought they were safe in so-called conservative investments. The stock market is still grossly overvalued and skating on thin ice. Rising rates while be its demise. Unnecessary defense spending is the main factor propping up economic data. 3. Money growth is predicated on increasing the debt load and will come home to roost soon. 4. The government uses hedonic pricing models to manipulate the CPI and lie to us. We pay more for all the essentials our family needs. It seems only the things we only need to replace every decade or so, e.g. PCs and TVs, are getting cheaper. 5. Natural gas prices will remain chronically high with big spikes during heat waves, cold waves, and errors in storage levels. If oil can be over $30 with such a weak world economy then just wait until Asia picks up steam and we see some more civil unrest in Nigeria and Venezuela and OPEC decides it's tired of Bush and restrict production to drive prices up some. There's not one single factor pointing to prolonged price reductions in energy. Bush will loose the next election due to a dismal economy. Bush not doing too well in the polling place: pollingreport.com