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To: ild who wrote (113441)	7/19/2001 11:44:57 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

you could have said exactly the same thing in early '74, just before things really got out of hand. i'm surprised that economists far and wide still don't acknowledge that post bubble downturns are materially different from 'normal' cycles. i do agree that the manufacturing sector may see some stabilization by qu. 4, but i think by that time the service economy will have begun to tank. the Fed is doing it's utmost to delay the necessary correction of the vast macro-economic imbalances still extant...that means the downturn will take a lot longer than would otherwise be necessary. you can delay the inevitable, but you can't avert it.