Epstein Secrets

at to do next? McGovem's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief Investment Officer EFTA00714589 Notes [a] I like the idea of extending the holding period for short term capital gains to 3-5 years, and c

t anyone involved in the jobs debate should be required to read the article below, written after the prior deep US recession (1990-1991). It's from George McGovern, one of the most liberal politicians [b] ever to hold office and run for President. His epiphanies after leaving office and running the Stratford In

t—neutral basis. [b] According to methodology described by Keith Poole of the University of San Diego in the American Journal of Political Science, McGovern ranks as the 99th most liberal politician out of 3,320 politicians serving from 1937 to 2002. [c] In a letter to the Wall Street Journal. Reprinted

What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief Investment Officer HOUSE_OVERSIGHT_030007 --- PAGE BREAK --- Notes [a] I like the idea of extending the holding period for short term capital

tries are struggling with below-trend growth and employment. Perhaps after a debt binge, there are no easy answers, other than time. What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief I

What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief Investment Officer HOUSE_OVERSIGHT_031166 --- PAGE BREAK --- Notes [a] I like the idea of extending the holding period for short term capital

tries are struggling with below-trend growth and employment. Perhaps after a debt binge, there are no easy answers, other than time. What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief I

ficit-neutral basis. 4 According to methodology described by Keith Poole of the University of San Diego in the American Journal of Political Science, McGovern ranks as the 99" most liberal politician out of 3,320 politicians serving from 1937 to 2002. ' In a letter to the Wall Street Journal. Reprinted with

240% 220% US 200% 180% 160% 140% 1987 1990 1993 1996 1999 2002 2005 2008 Source: Federal Reserve, Office for National Statistics. UK Data as of 2009. Michael Cembalest Chief Investment Officer The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cem