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To: Les H who wrote (7314)5/5/2003 10:33:20 AM
From: Les H  Read Replies (1) | Respond to of 29599
 
Timing of rate cut becomes critical

nationalpost.com

He notes there has been 33 consecutive monthly declines in manufacturing payrolls and overall factory capacity utilization is still only running near 75%.

"What are you going to do: hire a worker to stand around a look at idled machinery?"

A further reduction in borrowing rates will not magically spark an uptick in demand from tapped out U.S. consumers or foreigners who have long lost their appetite for the high-technology and financial services that made the United States the centre of the universe just a few years ago.