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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (19012)	2/20/2001 11:30:37 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 19374

<<...2000 is just a big, nice round number that the Fed knows will make terrible headlines if broken >> What will make even more terrible and far more lasting and deeply felt headlines, and which the FOMC is far, far more concerned with is the possibility of sharply accelerating inflation in the setting of a recession. That's the stuff from which long, long, hard times are made of, as anybody who remembers the previous recessions is well aware. And progressively bad news headlines which never seem to end, leading to ever-widening despair. Furthermore, an economic catastrophe of that sort virtually dooms any chances for a gain in political strength by Republicans, and assures a Democratic victory in the next election. I don't believe any president who was in office when a recession hit has ever been re-elected. And yes, that sort of catastrophe would be just the event which might cause Alan Greenspan himself to join the Joe Lunchbuckets in the unemployment lines, and I seriously doubt he is oblivious to that. JMVHO.......... Walkinghshadow