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To: Tulvio Durand who wrote (90902)	12/28/2000 9:28:20 PM
From: Jordan Levitt	Respond to of 152472

<<Sam, I stand corrected on technical definition of recession. Severe economic "slowdown" is technically correct term I should have used. Although I'm no economist, I will still argue that going from 5% to 2% GNP in one quarter, which has occurred, is just as bad (and probably worse) as going from 1% to -0.5% to -1% GNP in two successive quarters. >> Tulvio, how can I say this politely...No way! Slowing growth compared to shrinkage is not "just as bad" as you put it. Say you make 100 grand in a year, this year. In your example you say that making 102,000 next year is just as bad as making 99,000. All because the rate of growth in the examples has previously been different. You see, you cannot take the nominal examples and apply them; it just does not work. I will take slow growth (regardless of the previous rate of growth over recession any day my friend.