(an email exchange)
>
> On Tue, Sep 16, 2008 at 10:24 AM, Tom wrote:
>
> Hi Coach,
>
> While financial markets are in a meltdown not unlike the post 9/11
> experience,
>
yes, major deleveraging going on
>
> the good news is that central banks around the world are providing
> coordinated liquidity injections along with other positive actions that may
> create a new basis for global financial rescues.
>
yes, but all that does is set the fed funds rate and term fed funds rate. it’s about price, not quantity
>
> The creation of the League of Nations was an example of how the world
> responded to WWI.
>
> Tom
>
> P.S. But it is still not time to buy stock.
>
agreed!
watch for fiscal policy to do the heavy lifting to support GDP and employment.
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