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To: Box-By-The-Riviera™ who wrote (60985)	1/23/2001 6:19:13 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

i believe it's spot on. except for the fact that i think a Japanese style outcome is virtually assured precisely BECAUSE the authorities will fight the downturn/bear with any means at their disposal. this will lead to further malinvestment, and existing malinvestment not being cleared out. therefore, we can expect an endemic, long lasting period of stagnation, where anemic recoveries are followed by renewed downturns , until rates are at zero and nobody knows what to do anymore.