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

To: Knighty Tin who wrote (43488)	1/15/1999 3:18:00 PM
From: Merritt	Read Replies (1) \| Respond to of 132070

MB: As you may remember, I've felt there wouldn't be any meaningful drop in the market until the impeachment process was resolved. Now I'm wondering if Clinton and his cohorts don't feel they can continue to keep this bubble inflated through the end of his administration. <<He has to regularly throw together higher mountains of money and credit to keep this thing going up.>> He doesn't necessarily have to use gov't money; not while there's still all that Social Security moolah laying there. Of course, IMHO, that would be dangerously reckless in this historically over-valued market...but then Clinton isn't really known for his prudent behavior. If he can keep the bubble intact through the end of his term, I kind of think he feels that will rehabilitate his image. When you think about it, "It's the economy, stupid." has been the cornerstone that's allowed his administration to continue to stand. He may well feel that if the market tanks, and the economy shrivels, and people lose their retirement money after he's off the scene...it just goes to show that his successors lacked his economic acumen. Arrogant self-interest has been a hallmark of the man, IMHO, his words not withstanding. Merritt (now with virulence depleted<G>)

To: Knighty Tin who wrote (43488)	1/15/1999 6:08:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 132070

MB, I can't recall who said it, perhaps it was George Carlin. The quote was, "A hit of cocaine made a new man of me. The first thing the new man wanted was a hit of cocaine." Barb

To: Knighty Tin who wrote (43488)	1/15/1999 6:12:00 PM
From: Cynic 2005	Read Replies (3) \| Respond to of 132070

Mike Do you believe this? ------- Alan Greenspan recently wrote the following in response to a query by Congressman Ron Paul, (R-Texas) a member of the House Banking Committee: "The Federal Reserve has never intervened in the U.S. equity market in any form, either in the equity market itself or in the futures market, for its own account, for the [Exchange Stabilization Fund], or for any other Treasury account. The Federal Reserve has never encouraged broker/dealers to purchase stocks or futures contracts. The Federal Reserve has never had any "understandings" with any firms about compensating them in any manner for possible losses on such purchases." ---- BTW, this thread is waiting for your arrival! -g- exchange2000.com