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Politics : Ask Michael Burke

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To: Tommaso who wrote (80266)	4/30/2000 1:37:00 PM
From: Tommaso	Read Replies (1) of 132070

It occurred to me that if Templeton really does always buy at the point of maximum pessimism, maybe he's buying some gold: Message 13528478 One reason the dollar has appreciated against the Euro is the rise in interest rates and the known willingness of the United States to raise them as high as 20% if necessary to stop inflation. Raising them above the level on inflation will do that. If I am correct, then depending on what the inflation figured show for the next three months, our Fed might be willing to go on up toward 8% for short-term rates. With the Treasury buy-back of longer bonds, that would set up the classic inverted yield that to some extent we already have. This would be truly deadly for all equities, given the current P/Es of even the soundest stocks. Maybe a combination bomb shelter and wine cellar might be the very best investment.

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