Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.54

-1.2%

3:59 PM EST

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To: gdichaz who wrote (36896)	7/22/1999 9:40:00 PM
From: Maurice Winn	Read Replies (2) of 152472

Greenspan, my idol I can't see the problem. I watched all of his last talk [June] to Congress and it seemed he was much more lucid, intelligent, knew what was going on and in control of things than the questioners, some of whom were absurd. I quite like to have Irwin running the stock issues and Alan Green$pan running the money supply. Both seem to me to do an admirable job. Are you sure they were unintelligible remarks Chaz? When I watched him [not this time but I doubt he has changed] they were fully intelligible. True, there is no inflation if you use the actual definition of price changes. But prices are not falling, which they should be. The Fed is using the productivity gains to pay the Fed and government. He's great! I have no problem with what I've heard him say or seen reported. His overplayed 'irrational exuberance' comment is quite valid when applied to some stocks and he made it before almost anyone was aware of the impact of The New Paradigm. Nearly everyone seemed befuddled about how come things were so good, markets were rising but there was no inflation. So he was reflecting conventional wisdom then. Morgan moans that he lost so much paper profit today. That's a very short-sighted approach to financial assets. I lost some paper profits too. So? Qualcomm's fundamentals were strengthened by his care and attention and control of the money supply and the reward to people who are silly enough or need to hold cash. They get a derisory interest rate. I'm amazed it isn't higher. I'm sure it will go higher when cash holders figure out what The New Paradigm is doing to the real value of their money. The lack of inflation conceals their losses relative to productivity. Maurice

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