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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (1045)	2/15/2001 4:08:16 PM
From: ahhaha	Read Replies (1) \| Respond to of 24758

These clowns need to get on the same page: Fed's McTeer says U.S. close to but not in recession THURSDAY, FEBRUARY 15, 2001 3:15:00 PM EST CORPUS CHRISTI, Texas, Feb 15 (Reuters) - Federal Reserve Bank of Dallas President Robert McTeer said on Thursday that the once robust U.S. economy had lost so much steam that it may now be close to recession. However McTeer also said that the economy may be close to the bottom of its slowdown and that a recovery may occur relatively quickly in part because new technologies have made the entire economy more nimble and able to adjust to changes very quickly. "We are in a slowdown. I don't think it is going to turn into a recession but it is going skirt pretty close to it," McTeer said to reporters after delivering a speech at a Rotary Club. McTeer termed the slowdown a "V" and explained, "So far we are in the first half of the V (shaped slowdown)." Although he said he did not know when this slowdown will end, he said "I think maybe we are near the bottom of it." McTeer, a firm believer in the new economy, said the recovery may be quick because of new technologies. "The information technology that we have these days is so good that firms began in responding to slowing sales and rising inventories almost immediately. And hopefully that means that the whole process is speeded up, the correction of that as well as the dealing with it." McTeer is currently a nonvoting member of the Fed's rate setting committee. If "The information technology that we have these days is so good that firms began in responding to slowing sales and rising inventories almost immediately", then how can Poole be right in his deterministic viewpoint? What we have here ia auto-correlative feedback undermining any deterministic outcome. The strategists react to the strategists and so the game becomes n person indeterminate and they do it faster than FED can know. The action taken creates a non-linear transition to a chaotic outcome. It is precisely this that happened last Fall and it was this that caught the FED with their pants down. The FED closed the doors after the horses escaped and now they can't get them back in because the FED is afraid to open them adding another transition impetus to a new level of chaos.