The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (6477)	11/1/2002 1:56:39 PM
From: SouthFloridaGuy	Read Replies (1) of 306849

Hilarious, I just got off the phone with a business associate and mentioned that very same quote. Coincidence???? Anyway, sometimes when talking about things you get a better idea for yourself as to what the heck is going on. I've basically concluded that the Fed made a serious blunder in cutting interest rates so fast. We avoided a serious recession in 2001 but now they have only 150 basis points of landscape to work with. It took 11 interest rate cuts to get us out of the 2001 recession and now that we're getting back in it (without any subsequent raises), we only have room for six 25 basis point cuts. Instead of having equally moderate recessions, the next recession will be quite severe, IMO. I would say the risk of a liquidity trap has increased exonentially with Greenspan's rate cutting enthusiasm. The ECB had it right all along.

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