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Politics : Ask Michael Burke
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To: MythMan who wrote (47574)2/17/1999 9:44:00 AM
From: Mike M2  Read Replies (2) of 132070
 
MM, I will short (put) the banks when you say BK is no longer a myth. The money center banks will get a severe dose of tough love but the timing is tricky - I do expect it in 1999. AG & Bob Rubin won't watch passively as the banks get mauled. I can see a scenario where AG cuts rates in rapid sucession-like last fall- to save the banks but the dollar and the bond market get hammered. To quote Davidson & Mogg's " Great Reckoning" -" deflation is delayed compensation for inflation" AG and friends could have done it the easy way but they chose to prolong the speculative orgy so now we do it the hard way. The Fed no longer controls events the events control the Fed. The bigger the boom the bigger the bust. There will be tough love fer all. mike
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