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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: mister topes who wrote (5963)	6/16/1999 7:58:00 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Don: Re: "No inflation risk? Very bold observation to make based on these facts of life." Thanks for the post. You are right. There is inflation risk. But I did not say there was no inflation risk. I said that "for now" it has become neutralized. The risk is definitely there and the Green man will remind us all of it tomorrow but for now the market voted that there is nothing to worry about. Tomorrow is another day. I see the inflation risk and I also see the market did not care about it today. If the market continues not to care and pumps this market up in the face of these risks, we have something to worry about, don't you think? Thank goodness for Brinker because I am an amateur at this and I fully realize it.

To: mister topes who wrote (5963)	6/17/1999 11:25:00 AM
From: Hank Stamper	Respond to of 15132

don lane wrote: "#2 the beige book today showed ugly wage pressures which no doubt will ruin Dr. Greenspan's sleep again tonight." The wage pressure issue has been of interest to me lately. I recall a few years ago when the employment rate (US) began to approach current levels. Then, there was much commentary--plastered everywhere--about the certain inflationary effects of a tight labour market. The commentators were wrong, then. Where the heck are they now? On the assumption that Greenspan's sleep disturbance is due to wage pressure and not domestic activities, one cure would be to hike continue tighter money (m3) AND institute a SERIES of .25 rate hikes. One rate hike would not, IMHO, provide him with the requisite nostrum. Ciao, David Todtman