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To: SusieQ1065 who wrote (16240)9/14/2001 12:39:31 PM
From: westpacific  Read Replies (1) | Respond to of 208838
 
With a .50 rate cut, Greenspan will remove safe haven investing. Thanks to the FED, seniors will no longer be able to get a safe/respectable percentage return on their money. Money Markets will erode with inflation and low rates.

Our government is and will continue to reward risk behaviour and debt. The only way to get a decent return on capital now will be too take risks.

One more thing we can thank the terrorists for, they are winning this war already - NOT THE AMERICAN PEOPLE.

All the best,

West



To: SusieQ1065 who wrote (16240)9/14/2001 12:51:00 PM
From: Teri Garner  Respond to of 208838
 
Dollar Falls to Six-Month Low on Concern U.S. Recession Looms

By Geraldine Ryerson-Cruz and Mark Tannenbaum

New York, Sept. 14 (Bloomberg) -- The dollar tumbled to a six- month low against the euro and yen on concern Tuesday's terrorist attacks on the U.S. will push the world's biggest economy into recession and crimp demand for dollar-based assets.

The ``dollar overall is still in a state of crisis in the sense that we still have the potential for more terrorist attacks, and this is not over,'' said Andrew Busch, senior trader at Bank of Montreal in Chicago. ``The world is trying to get out of positions in the U.S. dollar.''

The dollar fell as far as 92.47 cents per euro, its lowest since March 13. It last traded at 92.12, down from 91.10 late yesterday. The dollar fell to 117.30 yen from 118.91 yesterday. It had fallen to as low as 116.92, its weakest since Feb. 28.

As the U.S. singles out Osama Bin Laden, who operates out of Afghanistan, as the prime suspect in the attacks, Afghanistan's ruling Taliban said it would retaliate against U.S. strikes in its country, according to Britain's Guardian newspaper. That could extend a looming military conflict.

``That means this would be a much more prolonged crisis,'' said Michael Malpede, senior currency analyst at Refco Inc. in Chicago. ``There's greater fear that would put the U.S. in recession and limit capital flows to the U.S.''

quote.bloomberg.com