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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (4623)	6/10/2001 2:07:37 PM
From: pezz	Read Replies (1) \| Respond to of 74559

<<Yea... and as oil imports [in $ terms] soared the fed tried to pump it away sending inflation soaring. Same as it always was.>> Well not having the details at my fingertips and being too computer illiterate to find it I will go from memory to that time. I do not believe that they lowered interest rates much more [ if any more ] than they did in response to the 1991 recession or even the most recent Asian crises.........Did they? Correct me if it is needed.Yet from 91 on we have seen inflation decline! Now lets put this in proper perspective. The FED lowered these three times.One time we had oil spikes, deficit spending war,and the most massive inflation in US history . The other two times government surpluses peace time dividends and cheap oil [ until recently of course ] and inflation rates actually declined . The conclusion can only be that other factors such as those mentioned were the main forces behind the massive inflation of that time ....... Thus Your Honor I must submit that my client [ The FED ] is innocent of all charges!