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Strategies & Market Trends : Gorilla and King Portfolio Candidates
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To: freeus who wrote (19058)2/29/2000 6:18:00 PM
From: mauser96  Read Replies (2) of 54805
 
I believe Mr. Greenspan addressed that issue in the Q&A session. It's really not his fault if ignorant media folks present it to a gullible public as representing something more than a bookkeeping statistic. This misrepresentation by the media is common - my favorite is "income" figure about poverty that don't include freebies like food stamps and Medicaid, and don't mention that actual spending is quite a bit higher than official income.
BTW, concerning Volker, rumor had it that he was appointed only because OPEC was threatening to price oil in some sort of basket rather than US dollars. The $ pricing gave the US a big advantage because we were the only country that could buy oil by cranking the printing press speed up (at least until OPEC and the voters caught on to the game)
All this may seem off topic, but 1987 taught me that the Fed how important the Fed is to all stock holders, maybe more than any stock specific news.
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