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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AugustWest who wrote (63223)1/30/2001 4:28:04 PM
From: patron_anejo_por_favor  Read Replies (1) of 436258
 
<<Assuming fed cuts 50 BPs tomorrow, how might it compare to the two cuts he did in '82 for 50BPs each?>>

The obvious difference between now and 1982 is that Volker actually did the right thing, raised rates and kept 'em there untill all the bad debts were wrung out of the system and inflation was left withering on the vine. Unemployment then was around 8% (if memory serves), vs 4% now. We're (speaking of the US in general, not the bears specifically) in big trouble.....<NG>
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