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To: SJS who wrote (3251)	9/23/1998 1:35:00 PM
From: Lucretius	Read Replies (4) \| Respond to of 14427

I think they've discounted 'ole Al too. Everybodyu assumes a rate cut at this point (including myself). If he were not say he's not going to, we TANK. If he says "yes" we sell off. Same difference, one is just more violent than the other. Lower interest rates won't help the fundamental problems w/ the economy of the world. the problem is overproduction, capital destruction, credit crunch, and currency chaos. Rate cuts don't stimulate DEMAND. They stimulate SUPPLY by allowing co's to borrow money and increase production. Supply is just what we DON'T need. all a rate cut would do is allow speculators to borrow more money and lever up in financial mkts even more than they already are. It simply postpones the inevitable and actually makes the ensuing drop that much worse. Mark my words: Al's int rate cut whether now or in Nov (he'll cut somewhere when the mkt starts tanking) will make this crisis WORSE.