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To: Perspective who wrote (47043)	12/13/2000 10:52:25 AM
From: marginmike	Respond to of 436258

I think the point also is that you cant just turn the economy on a dime. Once the prevailing momentum is on, it takes a whille to stop it. Even if Taxes were cut, and rates lowered those aspects would not inject anything for 6-8 months from now. We will be in recession by that time and Psychology and despair could happer Consumers and investors like in Japan.

To: Perspective who wrote (47043)	12/13/2000 11:29:32 AM
From: patron_anejo_por_favor	Respond to of 436258

<<What most people don't understand is that the only time the bubble's downturn could have been prevented was by slowing things during the boom.>> Agreed. The ideal time would have been as soon as possible, after the LTCM debacle. It seemed there was a reasonable chance for a panic then, so you could argue that the bailout made sense. But the continued reliquefication did not, indeed, the Fed should have reversed itself in the first quarter of '99 at the latest. Now there is virtually zero chance of this ending without recession...a BAD recession at that.