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To: Casaubon who wrote (46261)	7/15/2003 2:40:44 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 52237

US slashes growth forecast - Mr Greenspan appeared before a congressional panel The sluggish US economy is taking longer to pick up than anticipated, according to the latest figures and comments from the Federal Reserve chairman Alan Greenspan. Mr Greenspan, in his twice-yearly testimony to Congress, said the central bank was cutting its forecast for US economic growth this year by three quarters of a percentage point to 2.5-2.75%. The downgrade came on the day the Bush administration predicted that the federal deficit would surge to a record $455bn this year thanks to tax cuts, economic weakness, and the cost of war in Iraq and the fight against terrorism. A glimmer of hope for the economy came from figures for US retail sales, which showed steady growth last month.

To: Casaubon who wrote (46261)	7/15/2003 3:38:23 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 52237

Casaubon, AG always speaks from both sides of his mouth. That was my interpretation of his double speak. This man should not be on any public office IMHO (and I said it mildly)

To: Casaubon who wrote (46261)	7/15/2003 8:08:17 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 52237

not only me - 321gold.com The Fed chairman's credibility plumbed dangerous new depths yesterday with his curious assertion that the U.S. economy can do just fine without a manufacturing sector. You heard that right: We are all evidently going to get rich doing each other's nails and taking in each other's laundry. I don't have the exact quote at hand, but it was sufficiently off-the-wall to have prompted a few of you to wonder, in e-mail messages to me, whether Mr. Greenspan has finally gone off the deep end. Speaking before a House panel on finance, he made the remark, and others nearly as baffling, in response to questions from a few Congressmen - notably Ron Paul -- who seem to understand basic economics far better than he does.