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Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012...
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[QUOTE]Originally posted by glassman: [QB] this is from Kudlow's (another crazy fool) b log [i] Paulson's Testimony From the early reports of Hank Paulson’s confirmation hearing to become the next Treasury Secretary, he sounds very much like a supply-sider on fiscal issues. This is a good thing. He told the Senate Finance Committee that it would be a big mistake to raise taxes to deal with deficits and that he would like to see spending curbed. While he said tax cuts don’t pay for themselves, he does believe that tax cuts change behavior. Paulson emphasized the importance of U.S. business competitiveness and doesn’t want to see any over regulation. Amen to all that. Paulson is a free-trader. He boasts very strong ties to China, demonstrated by seventy some odd trips there as the head of Goldman Sachs. During his testimony he said he would push harder to get Beijing to move more quickly to overhaul its currency system. I do not agree with this. China has outsourced its monetary policy to the U.S., and that has served them well. I agree with John Rutledge, Art Laffer, and a handful of others who believe that the Chinese currency should be dollarized. But virtually all of Washington disagrees.[/i] http://kudlowsmoneypolitics.********.com/2006/06/paulsons-testimony.html [/QB][/QUOTE]
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