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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.21-1.1%4:00 PM EST

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To: HairBall who wrote (40492)2/17/2000 12:35:00 PM
From: Haim R. Branisteanu  Read Replies (4) of 99985
 
LG, I suspect based on AG testimony that even if they will raise rates the FED will still pump money into the system.

AG refused to relate to the accelerated growth of the monetary aggregates and caped out by saying the measurements are faulty.

Secondly he insisted that not the stock market is the main wealth effect driver but housing prices.

Now I would add to that that housing prices are not a part of the CPI or PPI calculation, but some archaic way of calculating rent equivalent based on mortgage rates and not the real market place.

There is no question in my mind that AG and his team are not independent and guide their monetary policy in a bizantyne way .

BWDIK
Haim

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