Some people have a real bug up their .. ear .. about deficits, and they will never comprehend how they are not a strong determinant of economic performance. I don't know why, but that's just the way they are, and no amount of evidence logic or argument will persuade them. I just heard Kemp speak opposition to Beckel's view ... and Kemp has proven that his concepts are right. I guess, that as an investor, I would simply be happy that there are Beckels out there to get people to sell their assets from time to time so as to allow others like me to pick them up.
I heard someone else predict the DOW will be at 40,000 in 2009 ... somewhat different from Beckel's view ... As for me, I'm much less optimistic and only am expecting a DOW of 12,000 by late '05 - and will look at it again then.
Bev, I am glad that you are sleeping well too. However, in keeping with my having my flight boots at the ready to jump into when I was pulling alerts during my AF years, we must all keep our 'jammies at the ready, so we can immediately counter the next assault of the FRAUDcasters. I agree with MM that we will have a few months of peace now, though, as they lick their wounds and try to shake off the knockout punch that has them laying on the canvas right now.
Oh: by the way, I do not believe we must get our pajamas on to respond to the silly "recount" movement. Though, given their judgement of late, CBiaS may get on board with that garbage, I suspect that even the NYSlimes as well as NBC and ABC will repudiate it... but in this case, I would truly savor being wrong, and will gladly don my 'jammies late for the party... that would be the last hurrah for all the Fraudcasters.
Were you in SAC?