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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 174.64+0.1%2:41 PM EST
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To: limtex who wrote (71487)5/5/2000 12:18:00 AM
From: Jim Willie CB  Read Replies (5) of 152472
 
Bond market has now become influenced as much by the reality of economic data, AND anticipation of FedReserve actions and reactions

personally I believe Greinstein is well aware of:

- his past lousy forecasting record since 1995
- need for gradualism as a security measure for protecting the economy from HIS OWN ERRORS
- the lagged effects of Fed hikes on slowing the economy
- the Y2K phenomenon's uniqueness, which is now fading
- the unstoppable technological revolution

his central focus in my eyes is the labor pool
sure, new laborers have come out of the woodwork in past years
their shortage puts heavy pressure on unit labor costs
but technological mitigating factors are accelerating
(I am trying to sound like Greeniespoonie)
dont underestimate the power of tech to respond and offset labor pressures

Siedman interviewed on CNBC is very steady, very accurate
he says Fed will hike only 25bpt and maintain gradual approach
he implied the Fed does not want to torpedo the economy
he does not believe the low productivity numbers out today
he thinks productivity is actually higher
(govt statisiticians suck, never forget, I will never stop mentioning this)

when the Fed Chairman is such a central topic, then the Fed has intruded & overstepped (simple as that)
his constantly moving focus and targets is his Modus Operandi for evading criticism for exceeding his Fed charter

I nominate Kudlow for Fed Chairman

hey Volt, are you sure those TexasTen$ aint deductible ???
/ JW
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