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To: Sarmad Y. Hermiz who wrote (120797)	3/18/2001 10:43:26 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 164684

sarmad, glenn says he began to see it in march. bigger ticket items are slowing.

To: Sarmad Y. Hermiz who wrote (120797)	3/18/2001 11:25:27 PM
From: GST	Read Replies (1) \| Respond to of 164684

Sarmad: I think the next employment report will show a jump in unemployment -- and it could be a large jump up to 5%. This will make people more nervous and spending will drop on many items. I think a snowballing effect needs to be headed off by aggressive Fed action. I think most of the world believes that. It is not just a matter of not spending your money, it is a matter of not borrowing more money to finance purchases. The balance sheet of US households needs to be repaired. People who bought stocks thought this was like "savings". We have not as a nation been saving money. With the bursting of the bubble, high personal debt, and rising unemployment, there is a chance that what began as idiots putting their money into yahoo stocks will end up causing a deep global recession -- I am not predicting that, but if yu are wondering if that is possible, the answer is "yes". AG needs to get off his ass and cut rates --- NOW.