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To: AllansAlias who wrote (52214)	9/2/2002 9:28:43 PM
From: NOW	Read Replies (1) \| Respond to of 209892

Yep, quite a sell off. wonder what in the world could prompt that? quote.yahoo.com^N225&d=c&k=c1&a=v&p=s&t=1d&l=on&z=m&q=l

To: AllansAlias who wrote (52214)	9/2/2002 9:41:48 PM
From: NOW	Respond to of 209892

In light of the economic decline that was already under way prior to the September 11 terrorist attacks, Senior Scholar James K. Galbraith asserts that the United States is facing an economic calamity. He forecasts a very deep and long recession based on expected steep cuts in consumer spending as a result of extensive borrowing by households since 1997. If households bring their expenditures into line with income, return to normal saving levels, or try to restore depleted reserves, unemployment will rise dramatically. Factors such as technology, productivity growth, lower interest rates, or provisions of the recent tax act, he reasons, will be unable to counter this trend. He concludes that the issues of global financial architecture and the U.S. national monoculture of oil and cars lie behind the present emergency. levy.org