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To: Oeconomicus who wrote (132590)	10/5/2001 10:23:19 AM
From: GST	Read Replies (1) \| Respond to of 164684

Bob: Companies are not just warning. They are warning and then cutting an additional ten percent of their workforce. This cannot be lost on the workforce of all the other companies that have not cut. People with jobs will shun spending and risk. Export markets are likewise drying up. Was 200,000 in lost jobs what you expected? Liquidity means shit to somebody sitting at work thinking ""my job could be the next to go, and I lost most of my "savings" in the stock market.""

To: Oeconomicus who wrote (132590)	10/5/2001 10:28:56 AM
From: GST	Read Replies (1) \| Respond to of 164684

This is not a matter of absorbing "data". It is a matter of coming to terms with the reality people are now facing, and the impact their reality has on the economy vis-a-vis the impact of fiscal stimulus and easy money. Washington is spinning tales of "feel good" policies and Wall Street used some of the liquidity sloshing around to scare the crap out of s few shorts. Big deal. The sluts are pounding the table and talking up their tarts. Big deal. The simple fact is, people do NOT feel good about the employment situation, and they are the ones being rational.