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Politics : Ask Michael Burke

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To: BGR who wrote (73586)	1/14/2000 12:22:00 PM
From: Knighty Tin	Read Replies (1) of 132070

BGR, You haven't been watching CNBS lately, where they have been spouting the new pair of dimes for real rates. The current scam the new pair of dimers is trying is that real rates do not normally run 3% above inflation, but 4%. So current real rates are low. Heck, you have to have at least some theoretical reason for bloated stock prices. The bond traders are not even looking at consumer price inflation. They are looking at dollar supply inflation and sinking credit quality and eps growth of 3.4% and out of control asset inflation. I am the wrong one to tweak on the CPI number. I think we are in deflation with no pricing power which will eventually lead to much lower bond rates. Of course, the stock market has to crash first. Intel really did an obvious job of faking their eps this time, but I guess they figure that both the analysts and their investors or either too dumb, too naive or too co-opted to notice. Of course I am buying my last third of puts today. This stock is all hat with water in its oil wells. <g>

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