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Technology Stocks : AUTOHOME, Inc
ATHM 23.76+1.2%Nov 28 9:30 AM EST
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To: gpowell who wrote (13130)7/29/1999 11:23:00 PM
From: ahhaha  Read Replies (1) of 29970
 
Greenspan testified that accelerating productivity came from the tech revolution and from the restraint of labor. That means that wage demands needed to remain constant. Why should they? Every settlement in the last year has been inflationary. Either Greenspan didn't know that in which case he's a patzer or he lied to Congress. The result is either the FED has to push rates way higher than anyone expects or they will wait for further data, because to get forceful means the prosperity is over and the stock market has no clear bottom. This is all due to the fact that FED targets interest rates and so the gradual adjustment that the market would achieve is forced to be abrupt.

If FED has to raise rates substantially higher, do you really believe that clever guys like Cramer will continue to hold ATHM? They'll advise you to hold while they give you the bag.

Why is the dollar falling? Well now I've written about a million words on that subject for the last 1 1/2 years, so I surely don't need to add now. I will tell you though that the dollar isn't falling as much as other currencies are rising. The thing is that the dollar strength has cloaked our growing inflation problem. Inflation takes place in the mind's of people and becomes strongly rooted there before evidence starts developing that it is here. We're inflating because we can get away with it due to the permissiveness of the FED. Rising costs and falling dollar. Hell to pay.
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