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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (9002)	10/4/2001 8:20:00 PM
From: Bill Harmond	Respond to of 57684

That's the standard "Fed's pushing on a string" argument that we get during every downturn. The scenario is always a possibility, but I think our culture argues against it. American's aren't Japanese. We like more, better, bigger, faster....and we have places to put stuff. Importantly demographics are on the side of expansion. The war babies' children, a huge new crop of X-generations are at the critical household formation stage, which is the reason demand has stayed strong for housing and consumer durables during this downturn. This has been a business investment recession. If anything, we could end up with an overly-stimulated economy going forward, IMO.