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Politics : Ask Michael Burke

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To: Michael Bakunin who wrote (60022)	5/20/1999 10:10:00 PM
From: Fred B.	Read Replies (3) of 132070

MB, At least, I have not resorted to name calling yet. <g> My prediction of %5 yield by the end of the year is based on my belief that inflation is still dead (or as us "ignorant" folks would like to say :we be no see inflation!!!) CRB is still at its lowest level in decades. So is gold. In times of inflationary pressures, the market would have soaked up all the gold the bank of England wants to sell and the price would have still gone up. Moreover, there is overcapacity everywhere. It is funny that the same bears who point to high yields (due directly to inflationary fears, and break of key technical support levels) as the harbinger of the upcoming crash, were predicting deflation and and a severe recession, and therefore a crash, only last October. In other words, in their thinking,only a 75 basis point FED rate cut brought us from the verge of deflation and worldwide recession to an overheating economy and inflation. They were wrong then and are wrong now!!! Fred

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