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Technology Stocks : Dell Technologies Inc.

DELL 133.51

-5.2%

2:36 PM EST

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To: Lee who wrote (141640)	9/8/1999 9:51:00 PM
From: Ian@SI	Read Replies (2) of 176387

OT to Lee re economic outlook... I come from Kudlow's school. The Fed has no business fighting US prosperity. Yet some of these governors seem to think that it's their job to jawbone the market out of recognizing that prosperity in stock prices. That prosperity is directly contributing to a better quality of life not just for the US work force but also for workers globally. 1. There has been no meaningful inflation in the US or Canada for several years. And while excess capacity in North America and globally remains at its current levels, it's unlikely that we're going to see any inflation any time soon. [DRAM glut to shortage is an anomaly that I didn't expect this soon, nor do I expect it will last long.] 2. Highest value added jobs are being retained in the US while some of the lower value added jobs are being exported to other parts of the world. Isn't this just the normal operation of our free market system. Why would the fed think there's a benefit to interfering with that process? Is there something inherently wrong with increasing the average wealth of US workers? ... or of those workers around the globe doing some of the more menial work on their behalf? I find it hard to believe that a Fed Governor wouldn't understand that these are among the benefits being realized by free trade policy. ... essentially, a global workforce has been created with maximum wealth being generated in those markets which are most free. I'm beginning to believe that Milton Friedman was absolutely right when he suggested that the entire Fed staff could best be replaced by a single computer. ... and then country would be much the better for it. Just a few random thoughts on a Wednesday evening. Best wishes, Ian.

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