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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (59062)1/18/2001 1:28:11 AM
From: jj_  Read Replies (1) of 436258
 
well to quote the stroke he said
"rumblings about the beige book manufacturing numbers"
"the fed may have cut quickly because of one of two things. Either they saw the economy was getting very bad very quickly or they we're reacting to a outside force. If it's the economy itself it's actually worse and the beige book made people step back.
He said it's like "searching for Sasquatch"...like when they we're "melting down their noble prizes to meet margin calls"

-I think what he was saying is we'll find out in the next few days whether it's a outside force that may cause temporary capitulation or something longer term...but Alan Greenspan isn't going to come out on the steps and say oh by the way we're reacting to a hedge fund may be imploding or the Governor of California going to Alan Greenspan who last time he checked doesn't have a degree in thermo dinamics there's probably something economic about it...
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