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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (2263)7/16/2002 9:46:49 AM
From: Jim Willie CB  Read Replies (3) of 89467
 
likelihood growing of Fed 1/4 of 1% rate cut soon
it will accelerate the USdollar decline
but without further stimulus, the US econ engine will falter
it will bring yet another real estate refi boom
and will ensure an eventual housing crisis

whether we like it or not, we are following Japan's path
this path leads to zero percent rates, deflation
utter destruction of economy, banking, stocks

the 1/4 point cut will be justified as further stimulus in an effort to REFLATE the economy
the 3-mo TBill sector and FedFundsFutures are beginning to call for it

I expect the effort to fail
debt collapse is well underway
additional willingness to borrow here is limited
it will be a sign of complete desperation by the Fed
and will be a major red flag for currency traders

it will invite a dollar freefall
and such freefall will not fail to arrive
/ jim
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