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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (50098)	7/1/2004 10:12:52 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 89467

as Chicago PMI says, Fed tightens just when slowdown starts in 1999 the Fed tightened exactly when the Y2K Effect stopped we got a recession and stock bust since the Fed is human-run, it is prone to react late like Fed Gov McTeer has said "we will tighten when we see the whites of inflation's eyes" we are seeing it, and a slowdown in the real economy so expect the Fed to repeat their 1999 error and slow down an economy which is slowing down ignore the GDP numbers put out by the USGovt they are self-serving, and very inaccurate GDP growth is about +1% and slowing since run by humans, and attempting to play it safe, the Fed typically waits until it sees evidence it MUST do something, instead of being ahead of the curve and the very things it intends to stop it will now get two unexpected bad effects - continued price inflation - economic slowdown AKA stagflation / jim