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----- Original Message -----
From: "James Taylor" <jptaylor@xxxxxxxxxxxxxxx>
Subject: [RT] Re: US Govt. Manipulation of Stock Market
> Well said.
>
> Like a mystery thriller movie, I can't wait to see if the government
indeed
> has all the right stuff to land this jet full of stary-eyed drunken
> screaming gamblers on the runway, given the fact that the jet is running
on
> fumes (margin debt at record pct levels,
Oh yes, margin debt is a whopping 1.5% of outstanding stock (and is probably
much less after Tuesday). In 1929 it was over 30%...
> Wall Street pumping out new IPO
> issues at alarming rate,
Oh yes, starting new companies, funding new technology, and increasing our
standard of living is such a terrible thing. Let's all just go back to
being farmers. Just for the record, all the new IPO's are simply a
reflection of the fact that Business America now gets its funding from the
stock market, and not from the banking system like it used to.
> GSEs like Fannie Mae and Freddie Mac are issueing
> bond debt at astronomical levels,
Oh yes, the highest rate of home ownership in history is such a terrible
thing. I think I'll sleep outside in my tent tonight to protest.
> corporations have loaded their balance
> sheets with new debt and have bought back their own stock at these maniac
> levels),
Oh yes, companies rewarding their stockholders with capital gains rather
than higher dividends is such a terrible thing. I'd much rather get the
dividends, which are taxed at a higher rate, because paying federal taxes is
my favorite pastime.
> the run-way is damaged (any recession now will likely result in a
> prolonged one, or worse, depression, given the fragile nature of world
> economies and the noose of debt the government the Reagan/Bush admin has
> sown), and the landing gear is gone (past history has shown that there is
no
> 'soft landing' when a bubble is burst).
>
Oh yes, let's look at past history. When the world economy did virtually go
into a depression in 1998, the US still turned in near record growth. In
1990, when the ratio of national debt to GDP was far greater than it is
today, the recession we had lasted all but 2 quarters. Hmmm, looks like
past history doesn't support your case very much.
Still waiting for the facts or historical evidence to support your claims,,,
Bruce
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