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Post# of 704041
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Ace Hanlon

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Ace Hanlon

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Re: mlsoft post# 81730

Saturday, 03/01/2003 8:50:09 AM

Saturday, March 01, 2003 8:50:09 AM

Post# of 704041
NYT columnist Paul Krugman says the Fed is very optimistic re: a recovery soon because they expect a strong rebound in business investment.

Wonder what they are smoking? A modest rebound in business investment is a reasonable expectation, but a strong jump? And any increase in business investment will almost certainly be swamped by further substantial consumer retrenchment.

Still more evidence od how out of touch with reality the Fed and much of the financial establishment still is IMHO.

“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi

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