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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: DOUG H who wrote (2416)	6/26/2001 11:54:47 AM
From: pbull	Read Replies (2) \| Respond to of 13815

Re home sales: I think that's the case across much of the country, ex-California. I get the sense that some things in some industries are picking up again. It's not across the board, and it's certainly not a "rising tide that lifts all boats." The government's forward-looking numbers, like orders for durable goods, should show signs of that. The trailing numbers, in contrast, for the second quarter should show continued weakness across nearly all of manufacturing. I think that's changing, albeit gradually. The Fed will ease again, but, really, the Fed has done its job here. The Fed has laid the groundwork for the economy to recover. The Fed, like a doctor, can't force healing upon a patient. PB