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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 220.40+1.0%Jan 12 3:59 PM EST
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To: John Chalker who wrote (4578)1/24/1998 10:44:00 PM
From: Ian@SI  Read Replies (1) of 10921
 
Chalks,

Re: "... the Phillips Curve proponents on the Fed ..."

There is no such thing as a Phillips Curve unless one confines the points plotted to the 1970s only. It's actually a scatter diagram. There has been no correlation between inflation and unemployment for the last few decades at least.

Even Phillips no longer believes that hypothesis let alone the fed. :-)

Re Fed easing: I think AG is caught between a rock and a hard place. If one believes that there is global overcapacity, the Fed easing would aggrevate that situation; if one believes that SEA will cause deflationary pressure within the US, then tightening isn't indicated.

Not an easy job even on the superficial level described.

Ian.
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