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To: Enigma who wrote (51035)	4/2/2000 6:59:00 PM
From: GST	Read Replies (1) \| Respond to of 116762

"corrections often take place before the onset of a recession" I agree completely - although I do not think a recession is highly likely. More likely is a shift in growth prospects outside the US. This would have the same impact on the dollar (downward pressure) and could be almost as damaging to valuations of US financial assets.

To: Enigma who wrote (51035)	4/2/2000 8:54:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 116762

<Corrections often take place before the onset of a recession.> Under normal market conditions, Bear markets usually take place when market participants perceive a recession is on the horizon. In a market mania like this one, a recession will come into being through a big decline in the stock market. The stock market has become a major part of the economy. That is to say, they are more intertwined than at any point in history. Large trade and account deficits are not in themselves reasons for the stock market to dramatically decline or for the economy to go into recession.