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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: pogbull who wrote (8702)	11/1/2002 11:44:43 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

recession is here, but stocks are celebrating ISM and consumer confidence confirm it Fed policy has failed, but stocks are rising on more of the same measures the illiterates cannot conclude properly that lower rates have failed but that is why they are illiterates pension underfunding is out in the open, but ignored cars being zero financed, eliminating the primary component of profitmaking housing has stalled, with mortgage rates backing up home equity extractions might continue for a while longer but I doubt it lower Fed rates might NOT result in lower mortgage rates all the foreclosures and delinquencies forestall lower mg rates jobs continue to disappear jobs report showed big losses in mfg sector offset in part by increases in mortgage finance sector but mg finance will be very temporary, soon to shed jobs gonna get dicey real real soon / jim