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How is it inconsistent? First, he cut
taxes. Then he cut taxes again. Seems consistent to me.
Kent Rollins
----- Original Message -----
From: <A
title=TheGonch@xxxxxxxxxxx href="">Dan Goncharoff
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Monday, May 26, 2003 4:47 AM
Subject: Re: [RT] spx daily
Bush may (or may not) be smart politically, but there is clearly
a difference between his foreign policy team, which incorporates a diversity of
views, and his economic team, where very member of the original team has quit or
been pushed out. Bush seems to be lacking the economic policy equivalent of
Rice, someone who defines a longer-term consistent message. Until he gets one, I
will not trust Bush's policy to be well thought-out.That to me is the
biggest reason to be worried about the future of the US economy -- a president
(or administration) that doesn't understand what it is doing can cause a lot of
damage.RegardsDanGKent Rollins wrote:
>The current
economic condition is SYSTEMIC....and thus resistant to "Quick
fixes".
Three years of a down economy is not
"quick". And "resistant" is not impermeable.
>Bush fired
Laurel and Hardy (O'Neill and Lindsay) because they told him you can't
cut taxes, wage expensive war, and continue sponsoring a huge, costly
bureaucracy in Washington....it's economic suicide in the long
run.
>That's why
he fired them....but THEY were right.
<SPAN
class=930204604-25052003>
If O'Neill and Lindsay were in your
opinion right, then why do you refer to them as Laurel and Hardy. This
is part of your problem, MASSIVE Mark. You are overly critical of
everything. We're either going to have MASSIVE inflation or MASSIVE
deflation. You don't care which as long as it is MASSIVE and
destructive.
>These
deficit projections are just the tip-of-the-iceberg.......and incredibly,
there is still no talk of government cut-backs in spending programs and
transfer payments.....just incredible !
Bush is smart politically. There was
a study done in the late 80's that said for every new dollar of tax money
brought to the government by economic growth, Washington spent $1.30 (or some
figure like that). That was the 80's. I doubt things have
changed. Bush is choking of Washington's money supply. That's the
only way to get them to reduce spending. It's the only way PERIOD.
You seem to think that these bigger deficits are a problem. Recently,
there was a book published that studied the effects of large national debts on
countries. England in the 1800's had a national debt that was 300% of
GDP. THAT'S MASSIVE, MARK. A number even you would
appreciate. They built up that debt thru wars and empire building.
But it wasn't a problem for England. They paid it off and now they are
just fine.
The only way to make Tiny Daschle say
"Well, I guess we don't have money for new social-dependency (aka vote-buying)
programs." is to put him in a deficit position. What are the Dumocrats
really complaining about today? Listen carefully. They are
complaining that they can't enact a drug benenfits program (aka social
dependency program, aka vote-buying program). They are complaining
that they can't make healthcare free for everyone. They don't want to
pay down the debt. They want to take our money from us and use it to
make us dependent on a social welfare State. Despite the fact that we
know socialism and welfare failed...MASSIVELY.
The only way...THE ONLY WAY...to cut
Washington's spending habit is to take away their money. And THAT is
exactly what Nucular George is doing.
Do you see anything in the world today
that is going right, MASSIVE Mark? Anything positive?
Kent Rollins
<DIV
>-----
Original Message -----
<DIV
>From:
Mark Simms
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, May 25, 2003 12:55 AM
Subject: RE: Re[3]: [RT] spx daily
I'm not
thinking MASSIVE here, only LONG-TERM.
Part of my
bearishness comes from the current high PE Ratios for one....there just seems
to be so much ANTICIPATION for a big recovery here...
I don't see it,
quite frankly.
Bush fired
Laurel and Hardy (O'Neill and Lindsay) because they told him you can't
cut taxes, wage expensive war, and continue sponsoring a huge, costly
bureaucracy in Washington....it's economic suicide in the long
run.
Bush did not
want to hear this....moreover, h<SPAN
class=930204604-25052003>e's
"dumb"...economically.
That's why he
fired them....but THEY were right.
These deficit
projections are just the tip-of-the-iceberg.......and incredibly, there is
still no talk of government cut-backs in spending programs and transfer
payments.....just incredible !
Unfortunately,
Bush may be out of office before this is proven
correct.....
<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Original Message-----From: Kent Rollins [<A
class=moz-txt-link-freetext
href="">mailto:kentr@xxxxxxxxxxxxxx]Sent:
Friday, May 23, 2003 8:16 AMTo: <A class=moz-txt-link-abbreviated
href="">realtraders@xxxxxxxxxxxxxxxSubject:
Re: Re[3]: [RT] spx daily
How can YOU ignore everything besides the tech
sector? If everything but the tech sector has turned the corner on the
economy, that sounds like a good thing to me.
With respect to the "derivatives bubble", prove
to me that there is one. This is the first I've heard about it.
Lately, Warren Buffet has been saying a lot of stuff with
which I don't agree.
FYI, consumers have been repairing their
balance sheets as well. Sorry I can't remember the numbers on that one
either. It's not as dramatic as the improvements on the corporate
side, but it was an improvement.
So you're joining Simms on
predicting MASSIVE Great Depression II.
Kent Rollins
<DIV
>-----
Original Message -----
<DIV
>From:
Brad
Cline
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Friday, May 23, 2003 2:08 AM
Subject: RE: Re[3]: [RT] spx daily
<FONT face=Arial color=#0000ff
size=2>How can you ignore the tech sector? That's like pro forma accounting.
If I didn't have to make my house payment everything is rosy. The
markets have seen their lows only if the derivitivies bubble doesn't burst,
or consumer debt doesn't come home to roost. Warren Buffet has said that
derivities are a "time bomb" waiting to happen. Maybe the fed will be able
to balance everything out over time but I wouldn't bet on
it.
<BLOCKQUOTE
>
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Kent Rollins [<A
class=moz-txt-link-freetext
href="">mailto:kentr@xxxxxxxxxxxxxx]Sent:
Thursday, May 22, 2003 8:12 PMTo: <A
class=moz-txt-link-abbreviated
href="">realtraders@xxxxxxxxxxxxxxxSubject:
Re: Re[3]: [RT] spx daily
Corporations have been doing balance sheet
repair for 2 years now. AT&T alone has eliminate over $50
BILLION in debt. I saw on the tube last week someone who had a
stunning statistic on what the S&P profits are if you ignore the tech
sector. Wish I could remember what that statistic was. And the
tech sector will fall in line soon enough. You are stuck in a
rut. The markets have seen their lows. Shake it
off.
Kent
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