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To: Robert Douglas who wrote (5858)	8/25/1998 11:25:00 AM
From: Paul Berliner	Respond to of 9980

Re: Krugman's position.... There have been several excellent retorts on this thread regarding Krug's exchange control proposals. My favorite site for Pac-rim perspective had this to say about the wily eocnomist.... afr.com.au

To: Robert Douglas who wrote (5858)	8/25/1998 4:09:00 PM
From: Zeev Hed	Respond to of 9980

Robert, one see such "good intentions" at peak employment, it could very well b that the next report will show this one to be the actual peak. In any event, other indicators seems to be pointing to a slow down, including corporate profits, and few stock indices such as the Russell 2000 and transportation. These may be predicting the 12th of the last 8 recessions (G), but I would rather wait and see if the FED steps into the breach or wait to see what happens when overnight rates are consistently higher than 30 years treasuries. Zeev

To: Robert Douglas who wrote (5858)	8/29/1998 9:23:00 PM
From: Sam	Respond to of 9980

Robert, A few days ago you reprinted this from a WSJ article: <<Mr. Hafer said the 'segments of the economy that usually sense the deflationary squeeze first - farmers, livestock ranchers and oil producers - already are feeling it. "Their incomes have been severely hampered," he said. "And they're going to have to, stop spending money." The next sign of deflation to watch for, he said, will be a sustained drop in consumer -spending figures.">> Well, the latest numbers on income and spending just showed income up and consumer spending down for the first time in 2 years. One month does not make a trend, but every journey begins with a small step. Greenspan and the Fed should cut Fed Funds at their next meeting, if not sooner.