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Technology Stocks : Intel Corporation (INTC)
INTC 40.56+10.3%Nov 28 12:59 PM EST

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To: Paul Engel who wrote (113299)10/12/2000 5:10:21 PM
From: John F. Dowd  Read Replies (2) of 186894
 
Paul: They seem to be a little upset at AMD's revenues. I guess it almost doesn't matter given the emotional reaction to the mid East flap. What really bothers me is that with the exception of oil we should have been concerned with deflation. Now it appears that is what we are faced with as Home Depot warned because of falling building material prices. Greenspan has really screwed things up by worrying about the wrong thing. Oil isn't inflationary as it takes away from discretionary spending and reduces consumption in every area. Oil price increases act like a tax - a fiscal restraint. The Arabs require payment in the US $ and therefore everyone buys $'s to buy oil to hedge against future energy requirements. This is another killer for American industry as the $ becomes too strong hampering exports. We didn't and don't nee any tightening. What we need is an accomodating money supply to ease the demand for $. JFD
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