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Politics : Ask Michael Burke

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To: MythMan who wrote (36569)	11/17/1998 5:35:00 PM
From: Knighty Tin	Read Replies (2) of 132070

MM, As I write, the Dow did a quick swan dive. Simple fact, Alan the Printer is killing the bond market, which will eventually kill the stock market. I think the strains he sees are the spread between Treasuries and junks. But his machinations make the junk all that junkier. That doesn't help. <G> Also, I do believe some major banks were and perhaps still are very close to going under. All of this sound of fury has allowed them to unwind some of their incredibly stupid trades, but most are still on the books. The Austrian economists are skiing by day and waltzing by night, unless they go to a disco and dance to Rock Me Amadeus. No time for buying trading sardines. <G> MB

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