Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 172.98

+1.1%

Jan 2 9:30 AM EST

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To: Asterisk who wrote (13150)	7/30/1998 7:14:00 PM
From: Jon Koplik	of 152472

Michael - I really do not want to get started on this money supply stuff, other than to say -- it is more or less commonly agreed that if the various monetary aggregates start having negative growth rates (i.e., literally shrinking) for a meaningful period of time (a few years), then we should have the 1930's again. Also, my understanding of these things includes the following : when a bank says "Okay, we'll never get our money back on that stupid loan we made; let's write it down to zero," then ... money supply has just shrunk a little bit. I strongly recommend against making any bet on "liquidity-driven" stock market levels, foreign exchange values, or interest rate levels based solely on money supply numbers, partly because they can be hugely revised by the Fed at some point in the future. I better stop soon, or everyone will fall asleep. (Does anyone reading this remember the Mad magazine spoof of Midnight Cowboy (about 30 years ago) and their joke on how boring economics can be?) Jon.

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