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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Crimson Ghost who wrote (36910)2/5/1999 4:51:00 PM
From: JungleInvestor  Read Replies (2) of 95453
 
The Bear may well arrive when the Fed raises interest rates to fight inflation. Brazil will need to be stabilized before the Fed does this. There was a globally coordinated lowering of interest rates at the end of '98 due to the fear of deflation and a worldwide depression. This coordination will be absent for raising rates to fight inflation (although the new European Central bank will be a help). For example, Japan and Korea have opened the money supply spigots to pump up their economies. The bottom line is that the inflation horse will probably have left the barn by the time the Fed raises rates, and it will be too little, too late. Bond yields, gold (an indicator Greenspan watches), and the CRB are all indicators of future inflation. Inflation will be bad for the stock market and will boost oil prices.
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