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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jill who wrote (32155)3/1/2001 1:07:13 PM
From: AllansAlias  Read Replies (1) of 65232
 
I think the use of the word "necessary" here is in the same sense that lightning or storms are necessary.

To every thing there is a season,
and a time to every purpose under the heaven.
...
a time to break down,
and a time to build up

His rate hikes coincide with what you see as the start of the recession, but they are only a straw. Many years of groundwork had to be done in order for the straw to have the capability of breaking the back.
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