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To: bonnuss_in_austin who wrote (12772)	4/19/2001 12:27:45 AM
From: pbull	Respond to of 13572

I mean it was time for the Fed to take bold action. The timing of this was near perfect. There are real, systemic, structural problems in our economy. The manufacturing sector is just facinating right now. On one hand, there is gross overcapacity in so many areas. That can only be cured, in my opinion, by allowing the weak to fail. At the same time, we are seeing a change that I really haven't been able to get my hands around yet. In my area, we are seeing new plants being built at a rate I have never seen. I'm not old enough. My guess would be, maybe, the late 1950s, the buildup for the space program. But I haven't been able to identify a theme, or a commonality, or even a coherent explanation of what I'm seeing. Big, huge, and as yet, unoccupied plants with industrial air scrubbers. OK, now, go ahead and laugh and get it over with. One makes soy-based milk. One is a dog-food plant (can you say Wal-Mart?) While some significant employers in this area are cutting back, the machine shops are just going crazy. Absolutely crazy. And that part, unfortunately, I can't talk about. PB