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Non-Tech : Deflation -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (77)	11/22/2001 4:22:01 PM
From: Oblomov	Read Replies (1) \| Respond to of 621

Maurice, you can't be serious about monetizing revenues. It wouldn't just hurt the USD, it would make the US into a 3rd world country. There is nothing wrong with a little depression from time to time, whether economic or emotional. In fact, depression may be the healthiest emotional state one can experience in some circumstances. When depression (or euphoria) becomes too deep or too prolonged, it is unhealthy. But, many Americans have become afraid of normal business cycles. What we are experiencing now is just a consequence of the boom. What's wrong with it? Contraction follows expansion as naturally as the night the day. I think that the cajoling by our rulers to go out and spend is both pathetic and dangerous.

To: Maurice Winn who wrote (77)	11/24/2001 4:58:42 AM
From: JF Quinnelly	Read Replies (2) \| Respond to of 621

Well, there's certainly been a deflation in the stock market over the last year and half. Real estate is holding up just fine... but some Smart Guy who declared the NASDAQ Bubble a year before it popped is now warning of a residential real estate bubble. Who knows if he will be right again, I sure don't. House prices in southern California are certainly high, they have finally eclipsed their last peak back of 1989, just before the end of the Cold War wiped out the defense and aerospace industry here and wreaked havoc on house prices. They went down nearly 50% before they stopped falling when that game ended. Bush and Company are going to push for accelerating the tax cuts. They want to get money quickly into the hands of consumers, to prevent a vicious spiral from developing. And keep in mind that we have had 10 straight interest rate cuts by the Fed. Lots of refinance at the lower rates, which lowers those monthly payments and promotes new spending. PS: Incidentally, I've wondered whether the USA has developed an esprit de corps as in Britain during WWII during which time the population became more cheerful while mayhem reigned. Put your money on this one. The country is realllly pissed off, in the sort of long-haul way that is Very Bad News for those who were foolish enough to have aroused our collective anger. The constant group infighting that marks American society is suspended right now, and that's not real good if you were planning on killing lots of American civilians. There is a very old American flag that predates the Stars and Stripes, it is a rattlesnake with the motto "Don't Tread On Me". Someone has foolishly confused the rubbish that Hollywood produces for the American character, and they will learn the error of their ways in the brief and terrifying days they have left on earth. I don't think we are going to get tired of hunting down terrorists, friends of terrorists, or friends of friends of terrorists for a very long time.