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To: Lee who wrote (131516)	6/7/1999 9:56:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 176387

Lee, First, thanks for all of the absolutely great links and the concise, pertinent commentary. Re the Unemployment rate. It's quite misleading and significantly undercounts the available workforce in the 51st state (Mexico) and the 52nd state (Canada). Re demand being too strong. Whatever could they have expected would result from NAFTA? Every study that I'm aware of, from countries that have adopted freer trade shows an identical growth effect. And re air fares. The pressure to have seat sales remains as long as there's excess capacity. The marginal cost of filling an extra seat is very close to zero. Yet I believe the government tracks only the list price, not the average price for a can of tuna or a seat on a particular flight. FWIW, Ian.

To: Lee who wrote (131516)	6/7/1999 10:56:00 PM
From: edamo	Read Replies (1) \| Respond to of 176387

lee..thanks your fed response all i really want to know is who owns the fed, who are the shareholders, is it not a "for profit" private banking monopoly?

To: Lee who wrote (131516)	6/8/1999 12:18:00 AM
From: stockman_scott	Respond to of 176387

FYI...Boston Fed chief sees world crises subsiding... <<CHATHAM, Mass., June 7 (Reuters) - Boston Federal Reserve Bank President Cathy Minehan on Monday said the world's economic crises of the past two years have begun to subside but the current international monetary system may invite, not prevent, further problems. ''Did our economic systems contribute to these events?'' Minehan asked. ''Financial problems are going to occur again and we need to be prepared for that, Minehan said, opening a three- day conference on ''Rethinking the International Monetary System." The Boston Fed-sponsored meeting on Cape Cod is expected to address questions on the impact of exchange rate controls, monetary policy coordination and international bailouts on the financial crises that have hit Asia, Russia and some Latin American markets since 1997. The program will address whether International Monetary Fund-sponsored bailouts of economic crisis-torn nations are essential or if they foster a dangerous moral hazard -- a phenomenon where the promise of financial rescue encourages more imprudent risk-taking. But despite possible shortcomings of the current international monetary system, Minehan noted the world economy has stabilized somewhat. ''Growth in Europe is slow, Japan has yet to begin a self- sustained (economic) recovery ... but if I look back to last summer and fall when financial markets were experiencing serious problems, it seems the dark days are behind us,'' Minehan said.>>