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Pastimes : Alan Greenspan MUST GO:
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To: wdlngduc who wrote (292)3/20/2001 3:17:34 PM
From: Master (Hijacked)   of 494
 
The monetary difference between 50 and 75 points is trivial. A business will not suddenly resume its spending because the cost of borrowing is a quarter of a percent less.

However, a 75 point drop would have had a tremendous psychological impact in our economy. It would have restored CONFIDENCE in our economy, which is what is really needed. The message that it would have sent to consumers, investors and businesses alike is that RELIEF is on its way.

Unfortunately, that senile old man has failed us once again. He lives in his own little cocoon and doesn't realize what is truly going on in the rest of the world.

Master
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