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To: Les H who wrote (66920)	1/15/2001 9:54:39 PM
From: John Rowton	Respond to of 99985

I posted a couple of weeks ago and argued against fighting the Fed ( and received a couple of comments ). At that time I explained that I was not as sophisticated as most on these boards but the rule I use is : dont fight the fed. I did not when they were raising and will not now. The Newsweek article is great as I think it will be part of the wall of worry. just my unsophisticated opinion.

To: Les H who wrote (66920)	1/15/2001 11:32:59 PM
From: FR1	Read Replies (2) \| Respond to of 99985

I love it when these guys compare US to Japan. Not even close. I'm glad Time is doing it, however, because maybe it will help get the FED off its butt and do a full 1/2 point at EOM. The entire banking structure in Japan was up to its eyeballs in bogus paper on real estate. The economic collaspe was not because of liquidity but because the "money" the banking system was based on was worthless. They still have not cleaned it up. Most bankers say they are only 30% done. Politicans don't want to force the bankers hands because it is them (the poiticans) that hold a lot of the worthless loans. The banks don't want to clean house because it puts them out of business. Stalemate. 10 years and counting.