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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: yard_man who wrote (6878)9/23/1998 5:17:00 PM
From: Rambi  Read Replies (2) of 86076
 
Tippet,
I've been listening to CNBC all afternoon and one becomes convinced that either there were two AG speeches given or there is a language that the normal person doesn't understand, so full of nuances and double entendres is it.
Apparently the latter is true. CNBC (who added the word URGENT to the need for action about an hour after the initial speech) had an "ex-under-assistant- under- the -assistant to the secretary of finance" on, and he said there was no doubt that AG meant a rate cut and that AG was sure he could deliver on it next week or he never would have said what he did as he knows the power of his words on the market. THere seems to be little question that this is what the market now expects him to do. It was amazing to watch a suspected inference grow to a perception to a belief to solid fact.
I was amazed that a man could use so many words to say so very little, but then be understood to have said so much. It must be a gift.
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