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Technology Stocks : Dell Technologies Inc.

DELL 149.13

-2.1%

Nov 6 3:59 PM EST

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To: Frank Ellis Morris who wrote (141357)	9/2/1999 11:15:00 PM
From: jhg_in_kc	Read Replies (1) of 176387

fed watches asset prices. COULD THIS BE A GOOD THING? READ ON."This sparked warnings about the dark meaning this has for stocks. Greenspan who coined the phrase "irrational exuberance," and he has from time to time let slip his view that stocks are 20% overpriced. But I take a contrary view on his comments. The fact that the Federal Reserve Board acknowledges the interrelationship of financial assets and the real economy and that stock ownership is at 45% of households, a record, means a more enlightened hand at the monetary tiller. Economic history is replete with bad monetary policy decisions in response to changes in only one variable (for example, raising rates during the late 1920s in response to perceived speculative excess on Wall Street). It is the unintended consequences of such actions that tend to be most harmful. Thus, Greenspan's broadening awareness of the global economic trends and the move toward an equity preference for wealth creation is welcome news. Remember, this is the same Federal Reserve chief who responded appropriately in 1987, 1990, and 1998. His legacy may well be to bring central bankers and their antiquated models into the 21st century." this from joe battaglia of gruntal co. HE MAY BE RIGHT. THE FACT THAT THE FED NOW CONSIDERS STOCK WEALTH AS AN INDICATOR COULD BE A POSITIVE....DO YOU SEE? JAW BONE 'EM, HECKLE EM, BUT DON'T CAUSE A CRASH, STAND READY TO ALLEVIATE HOWEVER/ ANY THOUGHTS? JHG

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