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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.03

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Dec 24 12:59 PM EST

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To: larry who wrote (54512)	8/15/2001 12:48:08 PM
From: GVTucker	Read Replies (1) of 77400

larry, RE: go. And more and more people are realizing that rate cut is not working this time, probably making it 2 out of 14 times in the last 70 years that it did not work. But nothing is surprising because AG himself said that rate cut is not going to save a BUBBLE in the early 70s. I am guessing that he probably already forgot what he said 30 years ago. He is getting old and probably is having a bad memories now. I think that Greenspan fully realizes that the rate cuts don't have much true impact on the economy any more. He's still perpetuating that myth, though, for a good reason. One of the major factors holding the economy up right now is the consumer. And consumers still believe the myth that Fed Funds rate cuts have an effect on the economy. Thus, rate cuts help out consumer confidence, and consumers help keep the economy alive. This is only a temporary fix, though, and unless things start to improve, that myth will be exposed, and the last true impact that rate cuts can have will disappear.

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