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To: Zeev Hed who wrote (201910)	11/3/2002 6:31:49 PM
From: Win-Lose-Draw	Read Replies (1) \| Respond to of 436258

imo greenspan tied his own hands, and long before Y2K. once he gave the signal that he was willing to print unlimited amounts of money we were doomed. i doubt very much that raising rates would accomplish anything, but since we know from our own experience and from Japan's that endlessly cutting them is a dead-end, why not cut 'em? at least we can have a little entertainment before it all goes sh-t.

To: Zeev Hed who wrote (201910)	11/3/2002 6:39:29 PM
From: mishedlo	Read Replies (1) \| Respond to of 436258

I fear is that he stays here at these rates too long and as early as late next year we get a relapse of this mild economic recovery with strapped consumers going on strike and particularly problematic Asia and Europe causing economic slowdown which lasts a little more than 3 quarters.. You think with that plunge in consumer confidence, autos, housing starts, bankruptcies, credit card delinquencies rising, etc that the consumers are going to keep going for another year? I think the consumer retrenchment just began and will get worse for another 6 months, longer if employment numbers get any uglier. I look for a very anemic Christmas. Why do you think the consumer can keep going? I thought the basis of your rate hike was the consumer was done so we better give businessess an incentive to spend before everything goes to hell all at once. I see I am intrepretation challenged now. ggg But please explain how you think the consumer is going to hold up for another year. I do not believe it. M