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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Steve Lee who started this subject11/28/2001 7:03:37 AM
From: Justa Werkenstiff   of 99280
 
What the Fed. is going on? Meyers signals we should be ready to cut rates aggressively. Duh? What have they been doing? They have been cutting like we are in Japan. BUT at the same time, the Fed. and the Bush administraion says things are going to turn real soon and everything will just be peachy keen. Yeah, and this is just an inventory correction as was sold hard at the beginning of the year by these same people. Well, watch what they do and not what they say. And if they were so sure of a nice recovery around the corner they would not be selling more rate cuts which will not be felt in the economy for a year. So what does this say about what they see a year out? They are worried folks, very worried. Don't be fooled by their front. I think the Fed.'s aggressive posture on lower rates is bearish and not bullish as it portends the possibility of a long downturn, certainly longer than the one being sold by the street.

Now lets look at the unintended consequences of lower rates. People on fixed incomes will not be as confident about their prospects going forward as Greenspan and company keep giving them stiff arms. They either have to cut back or save more. Now that does not help the economy out of its funk at all.
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