Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Earlier in the feds cutting process, yes, the feds were important, but now everyone is already anticipating the feds, so I think the importance has declined. Frankly, what the fed say is less important than what they do, and I don't see what else they can do. Right now, they are in the mode of pushing on a string, and until bank lends out more money (or corporations line up to borrow new money, n ot just roll over older debt) they are pretty much irrelevant. I know Greenspan has said he has many other tools in his armamentarium, but what else do you want him to say, sorry guys, a shot my last bullet?



Zeev