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You know, I never considered domestic assets. If we could arrange to sell
our public schools to the Chinese, we could set them back DECADES!
I'll get started on that right after I implement my plan to bring RICO
lawsuits against the US government on Socialist Security, the war on the
Bill of Rights (aka, the war on drugs), Medicare, and the government
education system.
Kent
"In the next 10 to 15 years, the Chinese are going to make what the Japanese
did to us in the 80's look like a water pistol."
- Jack Welch
----- Original Message -----
From: "Jim Johnson" <jejohn@xxxxxxxxxxx>
To: "Kent Rollins" <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, December 14, 2002 11:08 PM
Subject: Re[2]: [RT] "feel the panic"....
Hello Kent and Mark,
You guys always suck me into these weekend debates. I'm w Kent on
this one. The deficit issue is red herring. US deficit has been at
small levels vs GDP in the last 30 years. What's more, national debt
is a bit misleading as we do not account for national assets--schools,
highways, various infrastructure. Research shows deficits (within the
range we have had) have little or no effect on the economy. Witness
the period 1980 thru 2000--or as I call it the Reagan expansion. He
was beat up about increasing defense spending, increasing the deficit
and cutting taxes. the sky was going to fall according to the Dem's.
Son of gun--the deficit disappeared because of tax receipts at reduced
rates and the Soviet Union tanked.
On the inflation score, seems to me what we know as inflation is oil.
In 1973 OPEC stuck it to the world and the cost of everything went up.
It eventually got digested and costs began to increase at acceptable
rates.
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxx
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