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Strategies & Market Trends : Asia Forum
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To: MikeM54321 who wrote (4334)6/10/1998 12:03:00 PM
From: MikeM54321  Read Replies (3) of 9980
 
Re: Alan Greenspan (What did he say?)

I earlier wrote: >> Didn't inventory levels rise to record levels in 1Q98? <<

Greenspan says: >>U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday that an unsustainable rise in inventories could slow abruptly and that strong monetary growth showed financial conditions were being accommodative of strong demand. ''The clearly unsustainable rise of inventories that has been evident in recent quarters will be slowing at some point, perhaps abruptly,'' Greenspan told Congress's Joint Economic Committee.<<

Does someone understand what he is saying? Is he saying what I think he is? That consumer spending is going to clear out inventories, maybe even, "abruptly?" It sure is a very bullish statement. If so, he just knocked right out from under me, one of the legs in my generally bearish stance.
MikeM(From Florida)
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