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To: yard_man who wrote (160563)	4/17/2002 2:34:43 PM
From: oldirtybastard	Read Replies (2) \| Respond to of 436258

can you find a bull that isn't long now or waiting to buy the next pullback (the one happening now)? the recovery is a perceived given as far as i can tell from the noises the sheep are making on the tv.

To: yard_man who wrote (160563)	4/17/2002 2:45:20 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

IMF's Koehler-2:US, Europe, Japan Must Tackle Imbalances WASHINGTON (Dow Jones)--The U.S. economic recovery should provide a lift for the rest of the world, making now a good time for the world's largest economies to correct longer-term problems, IMF Managing Director Horst Koehler said Wednesday. Risks to global economic growth include rising oil prices, uncertainties over companies' earnings and investments, and political tensions in the Middle East, Koehler said. "What is needed is vigilance and a firm policy hand to make the recovery robust and more dynamic," Koehler said in prepared remarks to be delivered to the National Press Club. "This means the main focus of policy must shift from short-term considerations to tackling decisively underlying problems." Koehler's speech comes just ahead of the IMF and World Bank spring meetings this weekend. The U.S. must take care not to return to the so-called twin deficits, budget and trade, of the 1980s, he said, adding that this would require "firm control" over public spending and a strategy to increase national savings. Although a stabilizing force in the recent economic slowdown, Europe also has work to do, Koehler said. "What I still miss is a stronger ambition to move to a higher potential growth path with stronger domestic demand dynamics," he said. Japan continues to drag global growth and that of the Asian region, Koehler noted. While there may be hope the recession there is bottoming out, the government must clean nonperforming loans from the banking system and deregulate its economy if it is ever to return to growth equal to its size and potential, he said. Koehler called on wealthy nations to lower trade barriers to goods produced by poor countries, saying that would be key to reducing poverty. As for the developing world, Koehler said no amount of financial aid can substitute for political unity over sound economic policies. Speaking to Argentina specifically, Koehler said that the IMF wants to help, and "is not asking for the impossible." "But it is of fundamental importance that the federal government, the congress and provincial governments face reality, pull together, and agree on an economic reform program which gives new trust to the Argentine people and to domestic and foreign investors," Koehler said. During the IMF meetings later this week, the Fund will examine ways to improve its policy advice and increase its impact, Koehler said. More transparency and greater candor is one important way to that end, he said.