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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (2565)	6/9/2003 8:12:12 PM
From: Lone Ranger	Read Replies (1) \| Respond to of 10065

Wally, Just like in the early nineteen hundreds when the market was crumbling, JP Morgan, got all the banks together and told them to supply liquidity, they complained saying they would have to use their reserves. He screamed at them "that's what you have them for!" And the market recovered. Similarly, if further signs of disinflation become even worse the Fed must use all means at its disposal to maintain sufficient liquidity. That's why they did the study of deflationary Japan. And that's why they'll do whatever is necessary.