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To: Thomas Sprague who wrote (15175)	9/17/1998 11:06:00 PM
From: dougjn	Read Replies (3) \| Respond to of 152472

I think we just might be risking the 30's, following our 1929. So do Greenspan and Rubin. That's what they said, if you donna haf a tin ear, man. <g> Wednesday, at the House Banking Committee. Like I said. A central banker NEVER says what Greenspan ALL BUT said. We are on the edge of a precipice. Greenspan obviously believes, as do Rubin and Summers, that funding at the periphery is a lot more important than easing rates a bit at the center. Consider the peril and reconsider your ideology. Hoover's ideological and thoroughly market oriented response to the depression was horrible. All, from virtually every ideological stripe, now agree. Markets will eventually right themselves. Sometimes at truly horrific costs. Virtually everyone now agrees that there is a role for wise and limited governmental counter-force, to moderate naked market extremes. Doug