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Technology Stocks : Year 2000 (Y2K) Embedded Systems & Infrastructure Problem
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To: John Mansfield who wrote (119)2/24/1998 2:18:00 AM
From: John Mansfield  Read Replies (3) of 618
 
2/23/1998 latest Y2K Reporter of Dr. Ed Yardeni

New On Dr Ed's Econet (only for subscribers).

'COMMENT: The latest inflation reports support my view that inflation is dead. The bond yield should fall to 5% later this year. While I believe that the days are numbered for the bull market in stocks, I'm still bullish on stocks for the next few months. However, some stock prices could tumble if companies pre-announce earnings disappointments related to the Asian Crisis during the last two weeks of March. Business Week ran a big cover story on the Year 2000 Problem this week. It was a good survey of the issue, but I disagree with the predictions of only a 0.5 percentage point cut in real GDP growth, a rebound in inflation, and tighter Fed policy. I think Y2K could cause a recession and deflation, with the fed funds rate tumbling to 3% by 2000.

SUBSCRIBERS: In my latest issue of the Y2K Reporter, I blast the
administration's new Y2K Conversion Council. I also predict that a Y2K explosion will blow up Al Gore's bridge to the 21st century. He is more likely to swim in the River Kwai than to sit in the White House in 2001. The Brits are preparing contingency plans for major Y2K disruptions. There is some good news on Y2K, but not enough. Why are the CIOs leaving at the FAA, IRS, and DOD?'

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From: Ed Yardeni <yardeni@ix.netcom.com> <Picture: Save Address> <Picture: Block Sender>
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