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To: ild who wrote (260756)	9/17/2003 12:13:15 PM
From: yard_man	Respond to of 436258

more bitter bears?? -- aw heck, they are right. But the American people WANT to be lied to and want to BELIEVE a lie -- so be it. >>In fact, we are even more surprised that the Fed’s statements could have a market moving influence. We have no confidence whatsoever that monetary policy will have any effect on the economy under the present post bubble environment and are amazed that the market is placing so much emphasis on a policy that hasn’t worked for the past two and one-half years. Don’t most investors know that the Fed lowered rates 11 times in the year 2001 without having much influence on the economy or stock market? This should suggest that monetary ease is not the cure.<<