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To: Giordano Bruno who wrote (343089)	9/10/2007 9:32:25 AM
From: stan_hughes	Read Replies (2) \| Respond to of 436258

I try to not expect anything out of the markets, but I'm currently in the Tough Love Ben camp scenario, where BB has evolved enough to recognize that keeping the system intact even if it means presiding over a healthy debt-purging recession is preferred to severe rate cutting, which would only serve to blow up the bubble even bigger until an even larger collapse happens later. As a new Chairman, regardless of his past, he has this one opportunity here to distinguish himself from Greenspan -- will he take it? I really don't know, but you can see the set-up. The flaw in my overall premise should be obvious however, i.e. that it may already be too late for him to be effective even in Helo-Ben mode, i.e. the US is so far in debt that the die is already cast, and even a lot of rate cuts at this point won't reinflate anything = here comes deflation whether Ben or anybody else wants it or not. BTW it's those deflation prospects that are preventing me from stampeding fully into gold although a lot of people a lot smarter than me are convinced that's the only way to go