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To: nokomis who wrote (44627)	6/15/1999 7:14:00 PM
From: kendall harmon	Respond to of 120523

Padinha on inflation again-why the fed will not raise just once. First he points out that Germany is on the mend, although it is too early to tell how healthy they will become. He then goes on: The second item on the docket today concerns the fascinating (and entirely disgusting) procession of parrots that's plagued business television during the past fortnight. Each new birdbrain hops atop its host's arm and, in order to earn the right to have a cracker pushed into its face, squawks something like this: Just like 1997. Any tightening will be a one-shot deal. Just like 1997. The Fed's totally OK with tightening just once and then going away. Remember 1997? It did just that. Tightened just once; then went away. Same deal this time. And you know what? These people may prove right. There are only two options -- the tightening "cycle" will either be a one-shot deal, or it won't -- and no one should be surprised to hear the people peddling shares stressing the scenario that stands to move more of their product. But think for just a minute. The Fed didn't follow up its March 1997 tightening with another one because Asia began to implode just months later....