Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Joseph G. who wrote (24514)	8/17/1998 2:10:00 PM
From: Daniel Ray	Read Replies (1) of 94695

Germans believe in a strong currency more than just about anything else I believe. (IMHO) On a related topic, did anyone notice the "Open letter to Alan Greenspan" by Jack Kemp in today's WSJ calling for lower interest rates to boost the price of gold?! I have always believed that public officials tend to DO the opposite of what they say they are going to do . . . Greenspan said there would be no decline in interest rates . . . this statement precipitated the latest 'correction.' But 'real' rates of interest (interest rates minus inflation) are at the high end of the spectrum right now, contrary to widespread belief. IMO the probability of a 1/4% decline in the discount rate has gone up somewhat. But I am skeptical that any such marginal decrease would drive the equities markets into break-out territory . . . Opinions?

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