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To: H James Morris who wrote (131409)	9/18/2001 8:31:05 AM
From: GST	Respond to of 164684

HJ: Thanks for digging up the numbers and putting tourism in perspective.

To: H James Morris who wrote (131409)	9/18/2001 8:39:09 AM
From: GST	Read Replies (1) \| Respond to of 164684

HJ: In our rush to embrace the willingness of the US government to spend a ton of money, make no mistake about it, we are now talking massive deficit where last year we talked of massive budget surplus. Long rates will have to rise as short rates fall. The Fed is unable to do much about that. War, deficit spending, inflation and high interest rates are a package deal. Perhaps we needed to reflate the economy. But watch out. We might get more than we bargained for.