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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: ~digs who wrote (1903)	2/15/2001 12:39:03 AM
From: TobagoJack	Respond to of 74559

It unnerves me that the maestro and his minions actually believe our current ailment is a simple case of inventory recession, as opposed to financial mania induced stroke coupled with massive debt poisoning. Of course, with the drastic 1% rate cut and an outsized tax cut, the medics seem panicked, and so may be they do not believe their own statements. The down turn after the railroad mania was not simply due to oversupply of capital goods and fragile confidence, but due to optimism induced stroke and systemic poisoning. Rest, stomach pumping, nutrients are called for. Not more partying. siliconinvestor.com QUOTE Feb 14 6:55pm ET By Mark Egan NASHVILLE, Tenn. (Reuters) Faced with an oversupply of capital goods and still-fragile consumer sentiment, Ferguson said the economy's "risks are primarily on the downside." His remarks echoed comments made a day earlier by his boss Fed Chairman Alan Greenspan who said the United States is not in recession but faces a bumpy transition to slower growth. ... "We want to make sure that the slowdown we are undergoing right now is what I would describe as manageable, that we achieve what has been called a soft landing, that we don't get a buildup of momentum," Ferguson said after speaking about e-commerce at Vanderbilt University. An important element in this process is ensuring that consumer confidence, which currently remains at levels seen during economic expansion despite its steep January plunge, does not deteriorate too sharply, he said. "We have to be careful because confidence can be a fragile thing and a break in confidence would have to be something to watch out for," Ferguson said. UNQUOTE