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Subject:  Re: Fed Cuts a Half Point Date:  11/6/2002  5:32 PM
Author:  kjkraut Number:  206144 of 2381073

Hi Mike,

I hear you. I even buy into a lot of it. However, I still do not think that the change in regulation to the 1996 Telecommunication's Act is going to be enough to kick start the economy. Nor do I think that a mere change in someother form of regulation is going to make companies spend more money right now. These ideas you mention are great ideas and should be implemented. However, these are just sector improvements. Not overall economy changing events.

Most company balance sheets are a mess. Most of the income growth is due to cost cutting. The balance sheets need to be cleaned up. Revenue needs to grow. These things won't happen until the fear is gone. That may take some time. I think we are on the right path, but I think this is going to be a long and painful growth path.


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