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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (57489)1/12/2001 10:08:12 AM
From: Perspective  Read Replies (1) of 436258
 
Decreasing confidence in the next rate cut is a major factor here. If the debt markets step back from their demands for another half point at the end of the month, stocks may get very heavy. Everyone was anticipating Al's excessive largesse, ala 1998. Credit markets are now busy backing that expectation out.

A printing orgy is the only thing that could save the Bubble from itself now - and even that would be just another postponement - but Al can't do it without an accomodating credit market.

BC
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