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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (40426)5/17/1999 12:25:00 PM
From: Tunica Albuginea  Read Replies (2) of 120523
 
Jenna, I think there will be further downside until we see more evidence there is no "inflation". Inflation is broadly defined
" as the bonds " perceive it. We need a convincing bond turnaround before we call "inflation" fears off.
Remember, Asian crisis in Oct 98 was precipitated by " Asian bubble economy". Alan G " kept the world bubble going " by " printing more money " ( 3 rate cuts X Oct 99). This is unsustainable because the bubble was based on borrowed money all around the world to keep Social Programs going;( borrowing from the unborn that is ). The is not economically sound policy. The higher oil and health care prices is just the hair that broke the camel's back, IMHO.

The only long term way out of this is a)cut social engineering spending,b)tax cuts so people can invest and enlarge the goods-producing-pie and provide for greater income for all.

Redistribution ( cutting a small pie in millions of tiny,,unsatisfying, slices for each ) is not as good long term as building a bigger pie so each can have a bigger piece. Unfortunately, Rubin and this administration are against this. As well as various spineless Repubblicans with Democrats ( different dress, same cloth),

TA
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