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To: Rarebird who wrote (51687)	4/18/2000 2:27:00 PM
From: LLCF	Respond to of 116833

< I hope Greenspan gets the message before it is to late: There is still time to change monetary policy and begin easing before a recession sets in.> Interesting. What will drive the economy, a 3rd new car in every garage bought with still higher levels of individual debt? Foreign demand for our goods? Just wondering. DAK

To: Rarebird who wrote (51687)	4/18/2000 6:38:00 PM
From: Mike M2	Respond to of 116833

Rarebird, I would argue that excessive monetary ease was a major factor in creating one of the greatest speculative bubbles in history. In late 1999 , there was $5.30 of credit growth for every 1.00 dollar GDP growth. The US economy is seriously imbalanced - low savings rate, excessive consumption,trade deficit, current account deficit, debt growing faster than income, malinvestment in dot.com companies. companies leveraging themselves to repurchases shares rather than investing in productive enterprise. mike