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Politics : Ask Michael Burke

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To: Earlie who wrote (49049)	2/26/1999 11:42:00 AM
From: valueminded	Read Replies (1) of 132070

Earlie: I disagree. You give AG too much credit. As long as the money supply expansion exceeeds the increase in (real) interest rates he can print with impunity. The reason is he knows it implies faith in the currency and its current valuation. Where it runs in to trouble is when the holders of our debts (corporate/govnt/private) begin to lose that faith. You are seeing a little bit of concern now as it is showing up in rising bond yields. You will know when you have the Feds attention when the FED stops adding reserves. At which point, I expect the interest rates to jump further. (imo) Furthermore, the dollar is not limping. It is doing very well(lately) against the yen and the euro. And it will continue to do well as long as we keep Japan convinced they can export its way out of recession. (imo)

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