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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Boplicity who wrote (30608)	2/6/2001 11:27:33 PM
From: stockman_scott	Read Replies (2) of 65232

Greg: Here's a little investing humor for ya... dilbert.com BTW, What a difference a year makes...just over a year ago we had the Dow at 11,450 and the Nasdaq at about 4150. A few weeks ago there were some distinguished economists who were on a panel in Chicago. Wayne Angel (a former member of the Fed Board of Governors) is now Bear Stearns Chief Economist and he noted that the Fed 'made a huge mistake' on December 19 when they failed to cut rates. They waited too long and now they are trying to play catch up. He also said that capital spending dropped to 9 percent from 18 percent of the gross domestic product. This is currently affecting all sectors (including the tech arena). It will take a few quarters to jump start the economy's momentum again. IMO, we might be better off without the Fed --> they tend to be behind the curve and make our economic cycles more pronounced. Best Regards, Scott

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