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To: GST who wrote (132481)	10/3/2001 4:51:27 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 164684

GST, I'm waiting for NYT to reactivate my account and send me my password. I assume you were talking about the 9/30 column. BTW, did you notice that the NAPM Index on Monday (for Sept.) came in at 47%, down .9% but two points better than market expectations? Also the NAPM Services Index came out today at 50.2%, up from 45.5% and 6.4% better than the consensus. >50% means expansion. Anyway, prior to recent events that led to urgent calls for greater stimulus, I was only marginally concerned about deflation because I didn't think that the economy was as bad off as many feared. Now, even though the economy appears weaker than it would otherwise have been, I'm not worried about it simply because of the greater stimulus. As for "over doing it", I hope not. Having the economy whipsawed around as we over-stimulate, over-restrain, over-stimulate, over-restrain is no fun and no way to live. Did we learn nothing from the '98 financial crisis and Y2K monetary wild swings? Bob