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Strategies & Market Trends : Mu Gamma Lambda

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To: Jorj X Mckie who wrote (5808)	9/7/2001 1:35:45 PM
From: MulhollandDrive	Read Replies (1) of 10077

While I agree that rates are still too high and further cuts are needed, I don't think it's the "right" medicine for what ails the economy. My thinking is the consumer is tapped out and any further cuts will only help if it spurs spending. It could be argued that additional borrowing (mortgage re-fi's, etc) would be used to pay down debt, which is of course, a good thing for the consumer ultimately. However, in light of the of shaky consumer confidence, I doubt you'll see any major spending come from it. Additionally today's unemployment headline will probably erode confidence even further.

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