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To: Terry Maloney who wrote (240003)	5/10/2003 3:58:40 PM
From: John	Read Replies (1) \| Respond to of 436258

I have to agree, Terry. What type of unintended consequences do you have in mind? I believe the Fed has made a collapse of the stock market and the onset of a depression much more unlikely than it was in 1929. There seems to be too much balance on both sides. I'm not saying it still won't happen, but it seems more likely that we will simply bump and grind in a range, perhaps for a couple of decades or longer, while inflation gradually erodes the purchasing power of U.S. citizens. (See Japan.) John