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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (2896)	1/20/1999 1:13:00 PM
From: Kirk ©	Respond to of 15132

My summary of what I heard Alan say suite101.com Interesting back and forth with some humor from the chairman! First time I ever listened to his testimony live! Fascinating what the press, with a liberal bias, decides is not worth reporting as to what he says! my impression is Alan is scared the Government will lie just as it did with Social Security and tax or tap into this huge pool of funds that would be created in private company investment. PS... I wonder if selling back to 4% on a total basis was wise just before Msft doubled? Lucky for myself and many I know, deciding to stick to a "cost basis" was what most did citing "Why sell a winner on a huge run?" With a growth rate of 75%... I wonder if Msft is that expensive? 8)

To: Wally Mastroly who wrote (2896)	1/20/1999 3:40:00 PM
From: Math Junkie	Read Replies (2) \| Respond to of 15132

Greenspan's comment about using "surplus" to reduce taxes was not his first choice. He was asked whether he would rather see it used to increase spending or reduce taxes, and he replied that his preference would be to let the "surplus" continue for a while, so as to pay down some of the accumulated debt. His preference for reducing taxes was only if he had to choose from that or increasing spending. Apparently, for Congressmen, reducing the national debt is not a thinkable option. <g> And I agree with Greenspan, by the way.