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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: hmaly who wrote (131540)	2/5/2001 2:56:10 AM
From: tejek	Respond to of 1572154

How are you possibly coming up with the conclusion that the economy isn't falling apart based on the 1 pt. rate cut? I would suggest to you that the 1 pt rate cut does infer that AG believes there is a real possibility of a recession coming; and AG is dropping rates in a mad dash to cut it off. Harry, I inferred that AG was trying to cut off Bush's tax cut at the pass. Also, AG said at the last meeting that the feds bias will be toward more cuts, implying that the downturn may be worse that everyone thinks. He will cut until there is enough stimulus in the markets. This is not an exact science. The feds don't know exactly what is the right amount of cutting. But it is likely they will cut again until March. Remember most of AG's comments were made before the latest positive employment report and the latest upswing in durable goods orders. Still, even when he made them, it does not mean the downturn is that serious as consumer confidence would indicate......and right now, that's the major problem. As for AG, when he wants to make a point, he makes its and he makes it strongly. When he wants to equivocate, he does. I think on the tax cut issue, one would have to say that AG, at best, is equivocating.<< Maybe AG was equivocating when made the statement you are talking about. But a wk. ago thursday, in his speech before congress, AG didn't equivocate at all. He said that reducing the debt too fast would cause a recession, and that a mild tax cut should come sooner rather than later. That statement makes sense to you? Still sounds like equivocating to me. ted