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To: Tommaso who wrote (90182)	4/18/2001 2:44:57 PM
From: Ronald J. Clark	Read Replies (2) \| Respond to of 95453

AGA +64B Message 15682018

To: Tommaso who wrote (90182)	4/18/2001 2:47:46 PM
From: Roebear	Read Replies (1) \| Respond to of 95453

Tommaso, Bingo, right answer! One difference between now and then is the cultural difference. Credit is very easy these days and folks are quite used to living on it, whereas in the 20's and 30's consumer credit was a recent phenomena prone to consumer "guilt" panic. It was in those days largely a hard currency climate and credit also had a bit of a seamy reputation to it. Kind of like Daytrading these days, ggg. Hence, I find it debatable whether a goosing of the economy via credit and liquiditry will allow enough time for a recovery of profits by enough of the economy to make a difference. I WILL however, be surprised if some inflation does not surface sometime in the next six months, whether by stagflation or a credit fueled demand economy. The consequences of an overly strong dollar may be too much to bear. It doesn't seem possible that we can export our inflation and import our deflation through this time as we have for a number of years. Of course, I've been wrong before, but that's how I'll play it for now. Best, Roebear