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To: limtex who wrote (15979)	10/5/1998 7:26:00 AM
From: Jon Koplik	Respond to of 152472

Limtex - regarding ... So far in the face a catastrophe immeasurably greater than that which faced us in 1987 all we have got is a drop of 1/4%. Don't watch the "published" Fed Funds rate; watch the interest rates that the real world's supply and demand for money have forced things like the 2-year note (or the 52-week T-bill) to. These rates are down much more than 25 basis points from levels of a few months ago. Jon.

To: limtex who wrote (15979)	10/5/1998 10:03:00 AM
From: engineer	Read Replies (2) \| Respond to of 152472

<<In 1987 when the market crashed interest rates in London were dropped immediately by about 3% and in the US by I can't quite remember but more than 1/4%. The result was that the market drop lasted a couple of days if that and panic was averted.>> And by 1989 (late) we had 21% home mortgages and credit card rates which are still 19.8%. So what did that do? Made a few investors alot of money, but caused a major crash in real estate and other related industries. I would rather have some really sound economic thinking here rather than knee jerk reaction and get the 1930's again.....or even teh 1990 to 1994 times. The problem with the world coming even closer and now having everything depend so much on a world economy is that without a good working agreement in things like the G7, it is meaningless. I think that getting others to help push the entire world economy in the same direction is what is needed. Mr. G can only push us so far.