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

To: Elroy Jetson who wrote (56494)	11/26/2004 5:12:23 AM
From: Maurice Winn	Respond to of 74559

Elroy, admittedly I didn't check the relative debt positions. But when I calculate the per capita debt and compare it with GDP per person, it's not that big a deal, though of course the trend has got to stop at some stage. After the Biotelecosmictechdot.com bust, there was going to be a substantial deficit no matter who won the Y2K presidency. Capital gains taxes disappeared, then interest rates were slashed from 8% to 1% so tax receipts on interest crashed too. I don't know how much of total tax that it, but I guess it's enough to create a hole in the budgets. The interest rate collapse certainly created a hole in my budgets. I don't see anything wrong with debt [other than debts by people such as Saddam who steal property to use as collateral for loans - Saddam's creditors now realize and accept that they aren't going to be repaid in full]. Mqurice