Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (8256)	3/22/2001 9:32:06 AM
From: Jibacoa	Read Replies (2) of 13094

<<The market and the economy needed a 3/4 point rate cut... The FED ignored this...>> Well, after reading Arthur Laffer's note on the WSJ today I guess we have to exonerate uncle Al since as Mr.Laffer explains, uncle's hands about the interest cut are tied and he just has to follow the lead of the 3 months Treasury bills rates.<g> The thing to watch is how uncle Al handles the monetary base. Apparently his mistake,(and the genesis of the late 1999 and early 2000 over-expansion of the bubble that caused its inevitable burst) was triggered by a fear of the Y2K effect on the banks that made uncle Al increase the monetary base too much in 1999. So from now on, forget about the interest cuts and just keep an eye on the "monetary base".<g> RAGL Bernard

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