International Monetary Fund World Bank Meeting this AM. Clinton's speech -- we will work for global economy, global society -- "USA will provide 100% debt relief" to foreign countries that invest in the best for the people of their countries. He plans to start implementing process next year. "I've asked Congress for $1 billion over next 4 years for debt reduction of foreign countries." Guess it's no wonder the tax cut was vetoed, looks as if there's going to have to be a tax increase to cover the dollar sums he's talking about.

-- claurann (claurann@aol.com), September 29, 1999

Answers

with the fiat,fractional reserve monetary system we have. The real tax comes when the Feds. print more and more money. from seemingly nowhere. How do they do that!!

-- I'm (with@titude.now), September 29, 1999.

How to derive your own personal tax cut: http://www.edrivera.com

-- A (A@AisA.com), September 29, 1999.

Something got hosed in the above post.

How to derive your own personal tax cut:
http://www.ottoskinner.com
http://www.edrivera.com

-- A (A@AisA.com), September 29, 1999.

Debt reduction for other countries?

Who do they owe that money to?

To banks that's who. Soooooo. Here's how it works.

Those loans were bad to begin with. The banks weren't going to ever get their money. So they cook up this scheme to get the US taxpayer to bail them out. Don't you feel sorry for those poor countries?

We pay off the loan to the banks. The only people this hardworking taxpayer is helping is a bunch of bankers!

In 95 days it won't matter as all debt will be moot.

-- LM (latemarch@usa.net), September 29, 1999.

LM: You have just described BRADY BONDS to a tee! A re-packaged mish-mash of unpayable debt of many countries, backed by the US taxpayer to bail out the banks who lent the money in the first place. Note that hasn't stopped ECUADOR from defaulting on them. This has shades of 1929 all over it. Then, it was Argentina who started the dominoes falling in Latin America by defaulting on their debt. The chickens are coming closer to home to roost. Regarding the DJIA, my very accurate source has shown that we are a day or two from a VERY SHORT BOTTOM, right around 10150-10250, after which we will see a FAKEOUT recovery to only the 10,600 area. THEN, within about the next two weeks, the bottom falls out. Happy landings!

-- profit_of_doom (doom@helltopay.ca), September 29, 1999.

Maybe after the bottom drops out you woulld like to share jjust exactly WHICH second stringer on the PPT you have hooked??

chuck

(for the abreviation challenged - - PPT = Plunge Protection Team)

-- Chuck, a night driver (rienzoo@en.com), September 30, 1999.