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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: Les H who wrote (37807)1/23/2000 2:28:00 AM
From: Cathedra  Read Replies (1) of 99985
 
A humorous article. "Your lips say no, but your printing press says yes!"

Saturday January 22, 11:09 pm Eastern Time
Greenspan anxious over U.S. imports - Japan Finmin

TOKYO, Jan 23 (Reuters) - Japanese Finance Minister Kiichi Miyazawa said on Sunday Federal Reserve Board Chairman Alan Greenspan told him the surge in U.S. imports could not last forever.

With new wealth provided by the U.S. stock market, money was not being made from producing goods and services and so had no outlet but through imports, Miyazawa quoted Greenspan as saying in a weekend meeting during a gathering of finance ministers and central bankers of the Group of Seven nations.

``At this point what's troubling him is that the money is going into imports, and this may be good for the people of the world but for the American economy this cannot continue for long,' Miyazawa said, speaking on a television talk show.

Miyazawa said he told Greenspan that he believed the U.S. stock market rise was a bubble and an adjustment was inevitable.

``I asked Greenspan if he had given a warning signal to the market so that people later could not criticise him for doing nothing, and Greenspan just laughed,' Miyazawa said.

Despite Greenspan's frequent flagging of a red light against excessive rises in stock prices, the market had taken his recent comments as a green light, Miyazawa said.
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