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Politics : Ask Michael Burke
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To: Thomas M. who wrote (76126)2/18/2000 6:36:00 AM
From: bill meehan  Read Replies (1) of 132070
 
From last night's scribbling (stealing both from you and Fleck):

Easy Al's speech was very hawkish, as was the Fed's semiannual report that stated, “The boost to aggregate demand from the marked pickup in productivity growth implies that the level of interest rates needed to align demand with potential supply may have increased substantially.” However, there was nothing in his comments that indicated a more aggressive approach by the Fed, which many took as being bullish, even though 25bp hikes look likely as far as the eye can see. As for margin requirements, they're simply not important according to Mr. G. Bill Fleckenstein brought a smile to my face with his observation that if that's indeed true, “Why don't we just make margin requirements zero? That way we can spend all of our money and invest it at the same time.” I also got a kick out of the Reuters headline, “Coke Formally Names Daft Chairman.” (Some of the fallen angels I've been buying lately already have daft chairpersons.)
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