To the economists on the list

Michael Perelman michael at
Mon Sep 17 19:28:47 MDT 2001

On Tue, Sep 18, 2001 at 11:08:34AM +1000, Gary MacLennan wrote:
> How serious are the falls on Wall Street?

All this is psychological, so it depends on the pschological reaction.

> Will all this panic on the Exchange plunge USA into a recession (and with
> it Australia)?

same answer, although the makings of a recession were already in place.
It is just a question of what sets it off and when.
> Don't the rate cuts now risk undermining the US dollar?

Where would they go as an alternative.

> Don't they give the impression that Greenspan is panicking?
> Is he panicking?

Back to psychology.
> Will the war preparations help the USA economy?
The spending will take some time to take effect.  Back to psychology.
> How low can the Stock Exchange go in Tokyo without producing some kind of
> melt down in the Japanese economy? I thought 13 000 was the figure but
> yesterday the index went below 10, 000.

Back to psychology.
> Regards
> Gary
> =======
> PLEASE clip all extraneous text before replying to a message

Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at
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