Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: JMD who wrote (11934)	5/20/2000 11:18:00 PM
From: Bernard Levy	Read Replies (1) of 12468

Hi Mike: I think a few economists are starting to raise the possibility of a recession starting about 9 months from now. The Fed made a big mistake by flooding the economy with liquidity for Y2k. Now it is trying to cancel this first mistake by another, possibly larger, one. Increased interest rates take about 8 to 9 months to bite. They do not even seem to be willing to wait to see the effect of the hefty rate increases since January 1. This is rather scary. There are lots of clues that a recession may be around the corner: a) the debt market is almost as closed as in August 98, b) the Japanese market is tanking, indicating that the export led recovery will be snuffed in the bud, c) the Euro is going down, together with European markets, probably indicating that European growth will not be nearly as large as the 3% predicted. Best regards, Bernard Levy

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