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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: valueminded who wrote (50275)	3/7/1999 11:09:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Chris, I agree with you I think I would qualify MB's statement by saying the that I question the Fed's ability to continue to cut rates with impunity. At some point the US dollar would be hurt by the cuts so i would also be concerned about a coordinated global rate cut. It seems clear to me that the Federal Reserve's allegiance is to Wall St , money center banks and the politicians who love to bask in the glory of a bubble economy. I expect the next big decline to be met with rate cuts but at some point the low rates will lose their power- see Japan. In addition, the US Fed cut rates dramaticly after the crash of 29 but failed to prevent the depression. It is sad that so many are ignorant of the lessons of history for the Great Depression sewed the seeds of WWII which cost the lives of more than 50 million people. Mike

To: valueminded who wrote (50275)	3/7/1999 12:34:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Chris, I may be giving AG some credit for character that he does not have. He is already being roundly criticized within the Fed for cutting rates recklessly last year and he is a good enough economist to know what those cuts will do to the economy when their impact is felt over the next 6 months. I don't think he can get the votes to cut again until AFTER there is a crash of major proportion, not just the wee tradeoff of this summer. But we shall see. Isn't it odd how bond rates are so much higher SINCE the cut in rates? <g> MB