Savings vs Social Security?

[Max Sawicky]

Max Sawicky wrote:
>My only explanation is that in
>the new era we have entered, financial markets and their
>underlying interests no longer desire that ultra-safe assets
>be floating around.

You may be giving the "financial markets" too much credit for 
thinking something through beyond the next 2 months. I really don't 
think the significance of the alleged disappearance of U.S. Treasury 
paper has dawned on them yet.   Doug

I'll take your word for it.
My euphemism reflects a lack of a precise
political-economic picture underlying what
is to me a very clear drive to liquidate
public debt, rather than cut the hell out
of income & wealth (i.e., estate and gift)
taxes.  Why is there so little elite support
for dunking the top income tax rate(s) and
repealing the estate and gift tax?  Here in
Beltway land, it's pretty obvious what
elites favor (with exceptions, natch)
and what they don't.  And it's debt
pay-down, not tax cuts.

mbs