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

To: stockman_scott who wrote (8968)	11/7/2002 2:25:59 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

Shostak is a true genius, absolute must read (nice dig) he points out some real gems... "we are dealing with something more serious than people realize" "They are fighting the problem with the same means that they used to create the problem in the first place." "The analogy between the US and Japan is increasingly conspicuous." "They believe that if the Fed can raise valuations, that will have a psychological impact and causes consumers to spend and producers to borrow, and the economy will pick up. But this is complete nonsense." "a high likelihood that the S&P500 could half from its current levels." "You can pump all the money you want but it does not create anything; it only destroys. It creates a misallocation of resources, consumes capital, and makes everything much worse." "You can pump all the money you want but it does not create anything [wealth] ; it only destroys. It creates a misallocation of resources, consumes capital, and makes everything much worse." "what he has done in lowering rates is delay recovery by many months and maybe many quarters." "We are looking at a snowball of downward pressure."