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To: SouthFloridaGuy who wrote (26294)	1/11/2001 5:32:06 PM
From: sea_biscuit	Respond to of 27307

Somewhat OT : As Stephen Leeb put it in "Defying the Market", the world economy of today is like a plane in mid-air whose landing gear has gotten stuck. The only way to keep the plane from crashing is to keep fueling it mid-air. IOW, Growth is the imperative in today's global economy. It has to be achieved at ANY cost -- even if it means high levels of inflation. Because a threat to growth anywhere is a threat to growth everywhere. The Fed lowered rates in 1998 when the US economy was EXPANDING! This is has never happened before. The reason? The Asian Flu and the Russian crisis. Similarly, as the US economy slows down, the Fed will do everything (even cut the interest rates 300 basis points if need be) to keep the economy going. At least I hope they do. Or else, they will trigger deflation, which in today's world, means a Great Depression. I would rather live with inflation than perish in a Great Depression. Those who are wishing for a soft landing should forget it. The only landing that can happen is a hard landing or an outright crash. The plane has to keep on flying and the Fed has to keep on feeding the fuel.