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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jim Willie CB who wrote (4922)10/2/2000 1:33:23 PM
From: Jim Willie CB  Read Replies (1) of 65232
 
Galvin hedges his Naz5000 prediction

he said this morning that NazComp 5000 still his target by yearend

BUT it requires the Fed to reverse its tightening bias to one favoring "easing"

my take is that a yearend rally will occur at yearend
NOT before both earnings for Q4 are guided positively
AND the Fed gives clear signals that they are finished with thier myopic paranoid delusional ill-advised tightening, which appeased graybeard crustified knothead governors who cling to their 1970's inflation fears, and have little valid comprehension of how inflation is caused

INFLATION IS CAUSED BY EXCESS MONEY SUPPLY GROWTH
from Nov99 to Jan2k, money supply grew sharply
in April, the CPI and PPI registered their response peaks in delayed fashion
RIGHT ON CUE

/ Jim
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