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To: Crimson Ghost who wrote (15360)	8/6/1998 1:55:00 AM
From: Investor-ex!	Respond to of 116927

George, Exactly correct. The interesting thing, vis-a-vis Alan Greenspan, is that his rhetoric on raising interest rates to prevent inflation will actually be discarded out-of-hand for a cut in interest rates to create inflation, countering US deflation before it goes too far. For whom is he jawboning, or doesn't he even see this? Growth with disinflation is a good thing. We've pretty much played this card, as disinflation is in danger of crossing over to deflation. Growth with inflation can be managed. Contraction with inflation is tolerable, if that's the only viable alternative. (I think it IS the only alternative). Contraction with deflation is depression and must be avoided at all costs. Debts of all manner, public & private, including the GROWING $5+ trillion national debt become increasingly burdensome.