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To: Jim Willie CB who wrote (8340)	3/20/2000 3:51:00 PM
From: Jim Willie CB	Respond to of 35685

next Greenspan Fed rate hike IS THE BIG MISTAKE by summer, previous rate hikes would get the job done the economy would be slowing down in coming months with no more rate hikes you have 6-9 months lagged effect from rate hikes Fed Reserve has raised rates four times already the next rate hike will be the first unacceptable, unnecessary, overkill, excessive, ignorant maneuver... it fails to anticipate in forward fashion the future effects of previous restrictive increases... it succumbs to a personal misguided agenda to "manage the stock market", which is totally outside the Federal Reserve charter the Fed is chartered to manage the US banks, the cost of money... it is not chartered to manage the vast reservoir of capital which can be collateralized to foment spending you can make the argument all you want that fast growing technology firms will grow regardless, dont carry much debt on their balance sheets, issue stock not debt, have customer back orders, whatever but it fails to factor in the effects on the Old Economy and their higher interest costs... these companies are not down 7% in y2000 for no reasson... their future growth is now in jeopardy, if not totally halted... many of these Dusty OldFart Companies are buying internet software and equipment, networking equipment, PC's and software, basic capital equipment in lieu of additional workers, and gobs of devices in order to "pedal as fast as they can" to maintain their productivity... these customers of technology will be cutting back soon MISTAKE #1 BY THE FEDERAL RESERVE, COMING TOMORROW massive effects to be felt this autumn if MISTAKE #2 OCCURS LATER THIS SPRING, we have another mini-Meltdown like 1997-1998... probably in the form of a stalled growth cycle throughout the world's economies hey Greenspan, FXXK YOUR PLANNED SOFT LANDINGS YOU HAVE A ZERO TRACK RECORD IN PULLING OFF A SINGLE ONE !!! why has nobody any memory of past failed soft landing attempts? / Jim Willie