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To: NOW who wrote (52973)	1/2/2001 5:28:52 PM
From: sandeep	Read Replies (5) \| Respond to of 436258

I hope that was tongue and cheek. The economy is quickly falling into recession and maybe depression. I don't trust Bush to be able to handle the crisis especially if he insists on a huge tax cut. I think he should push back the idea of tax cut to year 3 of his administration. It will be politically sound and he can justify it by saying that he is not sure if there are going to be any surpluses up the wazoo as the Clinton liars have assured us. Greenspan needs to cut interest rates right now. NAPM was VERY weak and consumer confidence is collapsing as we write...

To: NOW who wrote (52973)	1/2/2001 8:08:03 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

no, it wouldn't be. at this point there is imo no 'appropriate move' anymore. the market is in fact telling him to lower rates, and he will. the time to act appropriately was in the past, before the bubble took off, or when it became obvious that it was about to. the best cure for a bubble is not to allow it to come into existence. once it exists, you can only await its unwinding and hope things don't get out of hand completely. what remains very much open to question in light of this is whether lowering rates will have the desired effect this time around.