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To: Arik T.G. who wrote (67584)	2/14/2001 12:33:53 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 436258

generally speaking 'soft landings' are a rare exception...and i believe post bubble they can be ruled out entirely. that's not to say that the economy can't possibly stabilize at anemic growth levels for a while - it did the same thing in Japan. but longer term i expect a series of recessions, interrupted by weakish recoveries...and one or two of those recessions could conceivably be quite deep. the process of adjusting for the excesses has barely begun imo...WS has decided to look 'across the valley'...they apparently don't think the valley is that big. i think it's bigger than anyone now believes, with the possible exception of the extremely pessimistic fringe a la Prechter.