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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: KyrosL who wrote (31622)	2/21/2001 9:24:58 PM
From: david barr	Read Replies (1) of 65232

Over the weekend I quickly glanced through a book: 'The impending internet depression' and picked out one piece of info that made me take notice. An analysis of the crash of 29 was made and it was emphasized that the depression that followed could have been avoided except that the Fed caught sight of a little inflation after the crash and actually raised rates. This tightening actually helped initiate the great depression. I am sure that there were a number of factors that came together at the wrong time to create the depression and i don't want to debate it's causes. However, it seems that the feds control of interest rates has caused this latest downdraft, and with the same token they could make it a lot worse. I for one will be watching closely their next move. If they do not lower rates I am worried that they will make this recession much more agonizing. Dave

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