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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Ron McKinnon who wrote (44564)	11/5/2002 12:32:24 PM
From: E.J. Neitz Jr	Read Replies (1) of 53068

My thoughts on a rate cut: First I do not believe a 25bpts or 50bpts cut will help the financial markets. A 50bpts cut may spook the market, institutions will have in the back of their mind that Greenspan is keeping his powder dry for a probable war with Iraq, and if he cuts now, does that mean he cuts down to the zero level later.....like Japan. Also, Greenspan doesn't want to fuel the housing bubble further, even though he publicly denies one exits. A rate cut will do zip for business investment. Corporate profits are what's needed to get capital spending moving higher, not a rate cut. So.........I expect a sell-off tomorrow...no matter what happens. Greenspan has really run out of effectiveness and he is showing his age and fatigue. Just my thoughts.

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