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To: Keith Feral who wrote (108041)	11/6/2001 6:01:31 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 152472

the FED jsut cut short term rates for a tenth time. This is not a market to short. the FED cut interest rates ten times but the economy fell into a recession in spite of the stimulus and jawboning of the government and Wall Street pimps. meanwhile, all the trashy momo stocks kept going down. when extra liquidity fails to stimulate, you have a liquidity trap as identified by Keynes. it's called pushing on a string and bears a certain resemblance to the early 1930s as well as recent history in Japan.

To: Keith Feral who wrote (108041)	11/6/2001 6:04:42 PM
From: gc	Read Replies (2) \| Respond to of 152472

If 9 cuts do not work, I am not so sure 10th cut will make any difference. The problem with the economy is not about liquidity, is about end demand. I don't see it coming.

To: Keith Feral who wrote (108041)	11/6/2001 6:09:56 PM
From: pcstel	Read Replies (2) \| Respond to of 152472

Keith the FED jsut cut short term rates for a tenth time. I guess 10th time is the charm.. But of course this rate cut will be as ineffective as the other 9 before it.. The previous rate cuts helped prop up the market because their was the confidence that sooner of later.. The Rate Cuts would take effect... So far... They are all "no shows".. Now they start to back it up against a wall.. Only another 2% left.. When that is gone... Hello Japan.. IF 2.5% interest rates didn't do any good.. Then 1 % interest rates won't do any good either.. It's the concept of diminishing returns.. It's like having a Six Shooter when a Raging Bull is headed toward you... You feel pretty good when you have Six Bullets, Then Five, Four, Three.. But, by the time you only have two left.. And the Bull continues unabated.. Then you start to get a little worried.. When you only have one left.. You start looking around for a way out... They will all start to panic... Becuase their is the fear that the Fed can not fix it this time... PCSTEL