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Pastimes : NNBM - SI Branch

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To: elpolvo who wrote (1979)2/14/2001 1:34:46 PM
From: lurqer  Read Replies (1) of 104157
 
come to mejico wif us

Unfortunately I won't be able to join "the gang" just yet, but come April, I'll be swimmin' in the Sea of Cortez.

Maybe it was just me, but I found Greenies comments yesterday to be disconcerting - both ST and LT. First ST. After two 50 basis point cuts, he seems to have "settled back". Not only are future decreases likely to be the 1/4 point type, but will be more parsimoniously doled out. Moreover there are indications from the St. Louis Fed that the liquidity pumping has been drastically diminished. If this continues, we may have a replay of '92. During that year, Greenie used a plethora of 1/4 point cuts while complaining of "massive economic headwinds". We'll see.

Longer term his comments about monetary and fiscal policies that "should" prove positive under "these" economic conditions were disquieting. Perhaps I'm reading too much into his statements, but I infer that he and his colleagues have know idea about how to deal with a Dent demographic downdraft - or even that eventually one will occur. So when it does come we'll be on our own.

lurqer
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