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To: DaveMG who wrote (14956)	9/13/1998 3:19:00 PM
From: kech	Read Replies (1) \| Respond to of 152472

DaveMG- This article on Japanese low rates corresponds to what Keynes called "the liquidity trap". When you hear people talking about cutting rates as "pushing on a string" this is what they are talking about. Could it happen here? Not really close yet since real interest rates are still very high compared to the 3% they should be. There is still a lot of room for a Greenspan cut to get things rolling again, as was demonstrated by even the "rumor" or a cut last week. IMO Tom