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To: Jim McMannis who wrote (163706)	4/9/2002 8:09:35 AM
From: John F. Dowd	Read Replies (2) \| Respond to of 186894

RE values in your area cannot have doubled in 2 years and if they have you are in a very peculiar part of the country. Up here the prices have gone up by about 2x the inflation rate since 2.5 yrs. Of course that is because of people taking their $ out of the market (which I should have done) and putting it into homes. I have heard no one complain about inflation in the last 10 years. However under the mantra of the inflation sky is falling in AG made $ so tight it wasn't funny. My neighbor a big time contractor said the bank requirements kept getting tougher and tougher. The same held true for the CLECs (which I didn't own) and when they couldn't borrow any longer to expand to compete against the entrenched RBOCs they simply went belly up and the last mile congestion that resulted therefrom caused a glut of fibre trunkage and the near demise of great cos. such as Lu and NT.The brakes AG put on monetarily then radiated out and brought the econ. to a standstill and caused the worst profits recession in my lifetime. Yes indeed we have the opportunity to make the same mistake again but it won't be with loose money it will be doing what the Japs did - low rates with monetary contraction. AG is just plain out of synch. and so is JM. In fact I would prefer it if the Fed were a lot less pro active and leave things alone just where they are. There is nothing wrong with the government having to borrow at low rates - it keeps our national debt service low and stimulates the economy especially in a time when we are trying to rebuild and recast the mission of the Armed Forces. JFD