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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (30124)	7/22/1998 8:40:00 PM
From: Earlie	Respond to of 132070

Mike: Excellent comments. Like you, I wish that AG had clamped down on the system long ago. I suspect that he thought he could talk it down, but of course, that had zero impact in the early attempts and less ever since. One has to feel a bit sorry for Greenspan in that he knows it's the massive consumer borrowing that keeps the U.S. buying machine in gear, and he also knows that it's the elevated stock market valuations that allow/encourage the average guy/gal to go out and borrow to buy that new car or house ("Yes, dear, I know our debts are higher this year than last, but they are up only 20% while our stocks are up 40%"). Now he's got his left nipple well and truly into the wringer. If he pricks the bubble, there goes the U.S. economy, as well as any chance that Asia might be able to export its way out of the chasm. Like old Winston, Uncle Al doesn't want to preside over the demise of the empire. Personally, I think its well past the point where mere mortals can have any impact irrespective of office or power. Question for all,...do we start a pool as to when (not whether) Rubin ducks out the side door? I'll start it off by suggesting that it happens right after the G.S. IPO is launched. (g) Best, Earlie