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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (6820)	10/30/2007 11:10:07 PM
From: Nihontochicken	Read Replies (1) \| Respond to of 50228

FWIW, Paul McCulley of PIMCO today on Bubblevision predicted a quarter point cut, which he said would be the first of a long string of similar quarter point cuts, opining that a half point cut would be held in reserve, but implemented if and when conditions deteriorate faster than expected. This will steepen the yield curve by dropping the lower end (good for banks). Now, IMO, PIMCO movers McCulley and Bill Gross are no dummies, and can probably see the future better than any of us chickens, but the question is, will they tell us the truth as they actually see it? The problem nowadays is not too little information, but too much mis-information, whether inept or intentional. That said, my feeling here is that McCulley is being straight (and correct). NC