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To: Dave who wrote (67402)	3/18/2005 11:57:09 PM
From: Amy J	Respond to of 77400

Dave, RE: "This may sound "counter-intuitive", but it worked in the past (FDR). The one problem with this now is that our deficits now are not "buying" real assets such as bridges, dams, or the like since we have already industrialized. Unfortunately, our deficits are basically "purchasing" intangible goods which "we" will not earn a return on in the future." I hear you. I think one of the biggest problems this country has is the complete misallocation of capital to the real estate market. I agree they should change the tax laws to put an end to it. What exactly did the real estate industry ever invent? The real estate industry is a consumption industry, not a productivity producing industry. In fact, they've got consumers so tapped out, the only option may be inflation. Meanwhile, they keep cutting educational funding into the sciences. Regards, Amy J