Bond Outlook October 12th

For months, even years, the only critics of the politico-economic policies of the Bush Misadministration have been voices crying in the wilderness (bridport, Merk, Roach, for example). Now, however, even Republicans are realising the folly of unrestricted Government spending, the trigger being the casual way Bush announced that heavy Federal funding (between USD 60 and 200 billion) would be thrown at the hurricane-hit areas without tax increases.