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To: Boplicity who wrote (10542)	2/20/2001 9:09:33 PM
From: JRI	Read Replies (2) \| Respond to of 13572

How about Raymond's point- PPT to the rescue? Makes more sense to me than rate cut...

To: Boplicity who wrote (10542)	2/20/2001 11:24:08 PM
From: pbull	Read Replies (4) \| Respond to of 13572

Greg, you begin to make a point about psychology. What happens, if, in fact, the Fed comes to be viewed as having little or no ability to act? I'm not particularly concerned about Joe Sixpack, but medium-sized bankers, lenders, construction companies, etc., who begin to lose confidence. In my posts over the weekend, I described what I see as general economic conditions in my area, and I see a pretty fair amount of activity, not a boom, but a healthy amount of activity. Nearly everything tech related in my area has to do with primarily aviation/defense electronics, and by all accounts, they are busy as ever (I have several acquaintances who work at various places). I think my point here is this: there has been a lot of talk in recent years about the wealth effect from the stock market, yada yada yada. The only reasonable conclusion I can draw, based on what I've seen, is that everyday folks around here are out of the market (or else they'd probably be bankrupt), and the only ones who even care about the market at all at this point are "players." But folks get up the morning, go to work, take their kids to the park on weekends and so on. I just don't see the wildly devastating effects of a collapsing market bubble other than people are probably spending more time with their families than they spend looking for stocks to buy. In other words, it's possible that many people don't give a hoot about the market any more. Food for thought. PB