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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: MythMan who wrote (8710)10/15/1998 5:04:00 PM
From: Defrocked  Read Replies (3) of 86076
 
AG just gave the rehab patient a bottle of Jack Daniels
to celebrate his near recovery.

Dollar will get hit. Gold may rally. Discipline of
Germans will help the Euro if currency volatility
doesn't kill it. Yield curve will snap positive.
Money growth will approach double digits. If AG thought
he saw irrational exuberance in Dec.'96, Dec.'98 will
maniacally exuberant. Now the majority of investors will
believe that what ever happens to the economy or the
stock market the Fed will step in, lower rates, and
everything will be okay. Unexpected monetary adjustments
to real economic problems only work in the short run.
I thank AG for my private placement, but I'll also be
exiting the US dollar and adding gold stocks.

AG and the BOG know monetary adjustments are not the
cure. Only thing I can think of, other than "they are out
of their minds", is that some additional credit problems
must be on the horizon they know about.
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