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Politics : Ask Michael Burke
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To: james paterson who wrote (38719)12/9/1998 9:31:00 AM
From: Mike M2  Read Replies (3) of 132070
 
James, I agree the street will continue to spin reality even after the mkt declines and AG and Bob Rubin will enable them. I expect more rate cuts until the dollar weakens enough to offset the short term gain of perpetuating this bubble. The mkt will ignore layoffs because the labor department will tell us that the new jobs are in small businesses which are too small to count so they " estimate" . The public will ignore valuations and the "pros" who should know better are more concerned about underperforming their peers than prudent money management. The way many pros look at the mkt is "We can all go down together but we canot let it go up without us" I feel this bubble has a little time left at least until Christmas -the plunge protection team will see too that. Mike
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