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To: Yaacov who wrote (128501)	2/28/2001 1:56:53 AM
From: Jim McMannis	Read Replies (1) \| Respond to of 186894

Yaacov, Thinking about taking a ski trip to the Alps. Has it been snowing lately and how are the resorts looking as far as base this year? Thanks, Jim

To: Yaacov who wrote (128501)	2/28/2001 8:16:45 AM
From: Dan3	Read Replies (1) \| Respond to of 186894

Re: Had the worse night of sleep in a long time, as I don't see how we are going to get out of this I don't know how old you are, but things just aren't that bad at this point. Were you around during the aftermath of the 70's oil crises, stagflation, or the second oil shortage? And we got through all of those. We are still in near economic heaven, close to (near term) record low inflation and unemployment and substantial real interest rates with moderate nominal interest rates. The budget is still in surplus! These facts are very important because it means policy makers have access to the complete "toolkit" for stimulating the economy (should it become really necessary). Look at time series data of post war interest rates, inflation, and unemployment, and I think you'll find it's way, way too early to despair. OTOH, the next 6 months may not be much fun. Regards, Dan