Yes, I know that we have to slow the growth of health spending and wedefinitelyshould look for wasteful or ineffective programs to cut, but spending will go up.
The problem with this is that their own report shows that the absence of economic growth most definitely makes people unhappy: therefore weshould indeed strive for economic growth in order to make people happy.
But my best guess is that someone on that risk free arbitrage desk moved from risk free pure arbitrage into very definitely not risk free time arbitrage, or speculation as weshould call it, then the market moved against his bet.
