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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.31

-1.1%

Nov 6 4:00 PM EST

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To: KevinMark who wrote (64505)	12/17/2000 7:52:58 PM
From: Mike M	Read Replies (1) of 99985

I don't disagree that Japan may have waited too long to cut rates, but they have a few structural issues they failed to deal with as well. Banks carrying bad loans and throwing good money after bad...ad infinitum to name one. Another would be the job for life mentality which has begun to unravel. Not saying that bad loans isn't happening here but the Japanese carried it to an art form. Our biggest issue is probably credit card debt. We will see if the Fed lets that take us down or we can crawl out from under... I still like the market longer term, but remain skeptical of the short to intermediate term impact of monetary policy.

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