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To: SOROS who wrote (108625)	6/14/2001 12:57:07 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

i agree with that. i'm currently also looking for the bottom to occur sometime in mid 2002. that would be in anticipation of the low in inventory drawdowns in early 2003. and i think we'll see the Fed cutting a lot more still...as the really painful stage of the beginning recession is still ahead (not too far ahead however). there may be a small 'false start' in economic activity in qu.4 - but ultimately the economic contraction trend will prove to have a lot of inertia imo. the imbalances that need to be corrected are simply mindboggingly large - that will take time.