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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (71467)	12/5/1999 6:14:00 PM
From: Tommaso	Read Replies (1) of 132070

The monetary base may very well be expanding at more than an 18% rate, but couldn't this just be all that cash that the Fed is making available to prevent a Y2K run on banks? The big aggregates are, it's true, creeping a little faster than some months ago, but nothing like last year at this time: bog.frb.fed.us Money actually flowed out of mutual funds last week at a pretty good clip. But it's certainly clear that nearly half the citizens of this country think they have found that shares of stock are on the whole better than dollars, better than gold, better than US Treasuries, a lottery ticket that always pays off.

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