Zeev's Turnips Patch-No Politics (ZEEV)

[goodluck]

John Kasich is on Nightline right now trying to justify tax free dividends as a measure to stimulate the economy. They're justifications are unbelievable--"70% of Americans own stock, it will help a huge number of people". Diane Swonk said, yes, but the vast majority of them own less than $20,000 of stock, it won't help them much, Kaisich then rudely interrupted her, just asserted that it will help get the economy going again, it will strengthen the stock market, blah blah blah. These guys seem to think that if you repeat something over and over again, it will make it so. They just want to get the bubble going again for '04 elections. Swonk said at the end, "And there is the opening of the Bush reelection campaign."

I wonder if there is more to their desire to get the market up--if there could be a derivatives problem somewhere that they are trying to avoid? Just a speculation, remember Clark Worswick on SI. He was always asking, how many shoes have to drop before this bubble pops?!