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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.61

+3.0%

4:00 PM EST

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To: Crimson Ghost who wrote (11769)	5/16/1998 5:44:00 PM
From: Lucretius	Read Replies (1) of 116815

All need to read this. It is not new news, and I knew salaries were being understated, but I had no idea of the enormity of the problem: forbes.com got to the site and type in: (options) in the search box and click on the 5/18 story. Read the whole thing, be sure and click on continue to main story. Things are going to get much uglier than I thought. This house of cards is going to come crumbling down. Here's a little excerpt: "Shareholder interests aside, the vast spread of option programs may also be causing us to underestimate inflation. Fed watchers know that Alan Greenspan pays close heed to wage costs as he scours the horizon for signs of inflation. Are these costs understated? At Smithers &Co., Daniel Murray believes that incomes from employment in the U.S. have been rising around 2.5% faster than published figures state. Greenspan is certainly aware of the danger. Minutes from the Federal Reserve meeting of Dec. 16, 1997 say: "Employers were continuing their efforts to attract or retain workers . . . by means of a variety of bonus payments and other incentives that were not included in standard measures of labor compensation." Sounds like stock options to us. " -Lucretius

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