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To: willcousa who wrote (166669)	8/31/2001 10:42:38 AM
From: mepci	Respond to of 176387

W: This board and many others overestimate the power of Greenie, the President, and the congress. Like internet the power has shifted to the people. The sum total of consumer $ is greater than the Govt. $s. The gap is even wider when it comes discretionary and creatable discretionary funds. This is why the tax refund was able to just keep us in the + side for one quarter. Momentums are normally heavy. Fiscal policies is only part of the equation. Greenie is doing his best to keep a balance. If you notice there are more dissenting votes are developing in the Fed for rate cuts. Financiers are independant business people. Greenie can't do a damn thing, if they collectively feel that rates should not come down. There feeling is well expressed in the long term rates. A lot of you got benefited by the gogo years. It is time to strap your belts and try to watchout for excesses by corporations and financiers. Avtually this correction is good for the economy in the long run. We have excess capacity in the market, including the employment. Only now true productivity will start showing up. We probably will see a 9000 dow and 1700 nasd averages before we will see the 12000 and 2500 respectively.