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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (20301)	10/19/2004 8:35:32 PM
From: Paul Chiu	Read Replies (1) \| Respond to of 110194

We need someone, say 45 to 55 to become the next FED head, as it needs at least 1/2 a decade to slowly demagnetize the mess we're in. With both parties fighting so much, it's amazing the country runs as well as it does. But the financial state is troubling, we cannot simply act status quo on the fact that we are the biggest and scariest in the world. Rubin is too old as the next FED chief. I'd love to see someone as young as Glenn Hubbard be the one. Then again, I need to be careful with what I wish for.....

To: Jim Willie CB who wrote (20301)	10/19/2004 9:01:03 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 110194

The strong dollar policy was the least expensive way to pay for Reagan's massive shift from supporting the government with visible taxes to supporting the government with debt and monetization. It bought time while government spending was brought back into line with actual tax revenues either through reduction of spending or an increase in tax revenues. The recent explosive surge in government spending has eliminated this policy alternative. A much weaker dollar, with an ensuing sharp decline in national wealth, has been occurring and is inescapable. Eliminating taxes by taking on additional debt, with the inevitable monetary debasement, has always ended with disastrous results through out history. The creation of the additional debt/money, representing less and less capital, drives down the the interest rate below what the market would have dictated. This hidden tax results in less productive work and investment while increasing speculation. This creates the hollow prosperity which Joseph Schumpeter and Charles Rist both described during the period following World War One -- a period during which governments previously replaced taxes with debt and monetization. It is no coincidence that the savings rate and percentage of home equity both went into decline following the 1987 implementation of the Reagan program. home.pacbell.net home.pacbell.net home.pacbell.net

To: Jim Willie CB who wrote (20301)	10/20/2004 4:04:55 AM
From: Haim R. Branisteanu	Respond to of 110194

WOW and why do you think politicians should recognise that ? >>> he should get in there to fix the mess he made with the Strong Dollar trouble is, nobody much realizes he made a mess <<< more so the morons running for the White House who resigned to be just "BIG MOUTH -- TALKING HEADS"