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To: Stephen who wrote (1931)	12/15/1998 5:15:00 PM
From: space cadet	Read Replies (2) \| Respond to of 99985

Stephen, we Americans have learned a lot more about impeachment recently than most of us knew before. For example, I learned recently that Andrew Jackson was impeached on purely political trumped up charges, which I never knew. As for your issues: a) negative tone- big deal: this means nothing, and will pass quicker than Monica Lewinsky becomes a trivial pursuit answer (incidentally can any of us americans remember who was that bimbo that caused Hart to drop out of the presidential campaign? All I can remember is that one of those women- I think it may have been Oliver North's secretary- was a real babe). b) lame president and congress: it's a lame president by definition with or without impeachment. Anyway the fact that they might not do much this term is considered a plus not a minus by the market. The market loves the status quo and is afraid of anything changing, even sensible good things like lowering taxes. c) we definitely will have increased problems with Iraq. But we would have that with or without impeachment. That is no doubt the most serious foreign policy problem and one that Clinton has miserably failed at. Until we get serious about Iraq and take him out he will not go away. Both Clinton Bush and Congress deserve endless blame for this one. It has absolutely nothing to do with impeachment however. And yes, the market likes Clinton, Greenspan, Rubin though I can only stomach Greenspan myself. The other two are basically anti-free market in their philosophy. I find it ironic that such prominent anti-capitalists are so loved by the market. And as to the Senate actually removing Clinton, it will never happen. This whole proceeding is completely party line and only the Dumbocrats can remove slick willy and they won't do it. Incidentally I find it ridiculous that some people are now blaming the Republicans for refusing to allow a vote on censure. In the 80's when the Dumbocrats ran things they used similar tricks to defeat the balanced budget amendment even though most congressmen of both parties wanted the amendment. That cost the average american untold dollars a year in extra taxes and was a real issue unlike this phony impeachment nonsense. I think the only reason we are talking about it is the media loves it and what would they find to talk about if it disappears?

To: Stephen who wrote (1931)	12/15/1998 5:33:00 PM
From: j g cordes	Read Replies (1) \| Respond to of 99985

Stephen, you deserve a better answer.. this might help: "Markets Watch Impeachment Closely By Martin Crutsinger AP Economics Writer Tuesday, December 15, 1998; 5:11 p.m. EST WASHINGTON (AP) -- As if the worst global economic crisis in a half-century weren't enough, Wall Street now is beginning to worry about the impeachment of a president. Investors, who hate uncertainty, are concerned that impeaching President Clinton could cripple the government's ability to respond to emergency situations, such as another showdown with Iraq's Saddam Hussein or more turbulence in world markets. The Dow Jones industrial average did rally on Tuesday in response to a better-than-expected earnings outlook from General Electric. But the gain of 127.70 points followed five straight losing sessions that many analysts tied to growing worries about impeachment. ''The problem is the potential paralysis of the government,'' said Allen Sinai, chief global economist for Primark Decision Economics in New York. Many observers believe there aren't enough votes in the Senate to convict Clinton and remove him from office if the House votes to impeach him this week. But from the market's viewpoint, ''the worst thing we could have is four months of debate and trial in the Senate ... because of the uncertainty it would present,'' said Sung Won Sohn, chief economist at Wells Fargo & Co. Not all analysts are so pessimistic. While agreeing that impeachment concerns are having an impact, they said those jitters should settle down once investors realize that even if Clinton were forced from office, U.S. economic policies are not likely to change much if Vice President Al Gore moved into the White House. ''If there is no change in economic advisers with a change from Clinton to Gore, and it doesn't set us on a new economic course, I am not sure there is much economic uncertainty there,'' said Robert Brusca, economist at Nikko Securities in New York. But Brusca said any possible removal of Clinton from office was likely to be viewed with more alarm by foreign investors, who make up a significant portion of both U.S. stock and bond markets. The White House, hoping to persuade wavering House members to vote against impeachment, has been stressing the uncertainty issue and its potential threat to America's economic good times. There's some indication those arguments could have an impact. A long Senate trial ''would roil the capital markets and the stock market,'' said Rep. Frank Riggs of California, one of the moderate Republicans the White House hopes will end up voting against impeachment. To support the view that impeachment spells bad news for markets, analysts point to developments during Watergate 25 years ago. The situations are not exactly parallel. The Clinton fight is occurring during a lengthy bull market. The Nixon battle occurred during two years when stock prices took a beating as soaring global oil prices pushed the U.S. economy into a recession. But some analysts blame the oil price increase on Nixon's besieged presidency. And they warn that something similar could occur this time around. ''In the fall of 1973, when Mr. Nixon was starting to get into trouble, to me it was no accident that OPEC chose that moment to quadruple oil prices,'' said Nicholas Perna, economist for Fleet Financial Group in Hartford, Conn. ''That is the kind of action that takes place when someone, somewhere, thinks we are vulnerable.'' Even with the past week's stock tumble, stock prices are still up 10 percent for the year. After suffering a huge sell-off in August triggered by the collapse of the Russian economy, markets rallied once the Federal Reserve began cutting interest rates. But the global economic crisis is far from over. Japan is still struggling to emerge from its worst recession in 50 years, and Brazil and other Latin American countries could still fall victim. Some analysts argue that even if Clinton is forced from office, financial markets would quickly stabilize as long as two key policy-makers -- Treasury Secretary Robert Rubin and Federal Reserve Chairman Alan Greenspan -- remain at their posts. Rubin, who is held in high regard on Wall Street, has been rumored for months to be leaving the administration. But last week he forcefully denied a rumor that he would be gone by year's end, calling the report ''totally, absolutely and 100 percent erroneous.'' Many saw that as a signal to markets not to worry that the man many view as Wall Street's best friend is remaining at the helm. © Copyright 1998 The Associated Press

To: Stephen who wrote (1931)	12/15/1998 6:53:00 PM
From: SteveDavis	Read Replies (3) \| Respond to of 99985

Stephen, This impeachment process could very possibly give us a huge buying opportunity. When Trent Lott was asked when the Senate would take up the hearings he answered Jan. 6 and it would take 3 days or 3 weeks. The most likely scenario is after the vote on Friday to impeach the senior members of the Democratic party ie, Gephardt, Daschle and Lieberman will go to Clinton and tell him he has to resign. If he refuses they will remove him from office very quickly. the market likes the divided government so nothing changes. Gore will not be able to get any bills passed without Republican help so the market is safe. If anyone thinks that OPEC raised oil prices because of Nixon doesn't know what the hell he is talking about. That was a nationalistic and religious step that had been brewing for decades. If it wasn't for oil these guys would be walking around the desert with camels delivering salt. Oil is their ONLY resource with any value. Their entire economy is based on it. I have not seen any Senator say he would not vote for impeachment if presented with the facts. They don't want the vote but they will remove him in a NY minute. Remember, Clinton has no friends in the Senate. Steve Davis