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Politics : Ask Michael Burke

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To: bosquedog who wrote (90722)	4/23/2001 9:13:37 PM
From: Tommaso	Read Replies (1) of 132070

I of course am often wrong, but I don't think oil has BEGUN to move in terms of inflation. I think that consumers would gladly pay whatever oil products cost at a crude price of over $60. In the US, that would mean something like $3.50 gasoline, which is cheaper than what they pay anywhere in Europe right now. I have not seen one single letter to the editor in our city newspaper protesting natural gas prices of the past winter, which were not double, but TRIPLE last year (we were in a most abnormally low temp pocket in Nov-Dec 2000 in the US). Not a peep. Maybe everyone is shocked into submission. I haven't even heard a verbal complaint. I do feel that I am losing some friends because they have figured out I have been long energy and short tech stocks, even though I do not talk about it. I did try to tell them sell their Intel a year ago. I do worry about inflation adjusted bonds. When the gov't finally has to raise interest rates, it may hit them like everything else. But they should stay level--better than cash. I have my wife's retirement 100% in those. It's hard on people when the local lunatic starts making money.

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