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To: AugustWest who wrote (63223)1/30/2001 4:28:04 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 436258
 
<<Assuming fed cuts 50 BPs tomorrow, how might it compare to the two cuts he did in '82 for 50BPs each?>>

The obvious difference between now and 1982 is that Volker actually did the right thing, raised rates and kept 'em there untill all the bad debts were wrung out of the system and inflation was left withering on the vine. Unemployment then was around 8% (if memory serves), vs 4% now. We're (speaking of the US in general, not the bears specifically) in big trouble.....<NG>



To: AugustWest who wrote (63223)1/30/2001 4:44:54 PM
From: pater tenebrarum  Respond to of 436258
 
it compares not at all. first of all, in '82 we had the INFLATION-ADJUSTED low of the secular bear market that began in the late sixties...and we had the famous BW "equities are dead" cover. MUFU assets were only 2,3 % of GDP, not 43% as they are now...the S&P had a p/e of 7 and a yield of 6%....compared to 25 and 1,03% now.


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