DSS: DLT finally open for trading Message Board

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Technology Stocks : DSS: DLT finally open for trading

DSS 1.370

+14.2%

Feb 3 3:59 PM EST

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To: Sam who wrote (98)	10/14/1999 12:51:00 PM
From: Robert Douglas	Read Replies (1) of 488

Sam, Off topic. Between the bickering going in Congress and the Fed governors determined to WIN (Whip Inflation Now) by raising rates, we will go down yet further in the ripeness of time from here. It seems to me a little looney for them to do this, given our inflation numbers, but of course they have Mommy Eyes for inflation (or so they would like us more normal mortals to believe). You know that I'm not one of those wacky "end of the world" bears that sees disaster around every corner. But I do believe that there is one thing that could cause a real bloody bear market and that is inflation. I'm not even talking about 1970's and 80's type inflation but just a moderate pickup from the present low levels. So when I see the Fed being cautious, even overly-cautious, I can't get too critical of them. It's these little preemptive strikes that will keep the real thing at bay. I know that Alan & Co. are very worried about the labor markets and the tightness of them. It's a simple fact that we can't keep adding jobs at the recent rate for much longer without risking a rise in wages and the resulting inflation.(Too many jobs chasing too few workers) I believe they are correct in their actions to date and expect that the last of the three easings from the Asian crisis will be reversed sometime before the end of the year. I suppose that by then we will have touched a 15% correction in the major averages, perhaps even more. But this is nothing compared to the drop we would have if wages start growing at rates between 4% and 5%. If that happens, you could see the Fed Funds rate above 7%. That would result in a major down market that I don't really wish to see. -Robert

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