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To: KeepItSimple who wrote (66226)	7/5/1999 2:40:00 AM
From: Bill Harmond	Read Replies (2) \| Respond to of 164687

>>I'm not going to sit back and lose money by being right, as long as we've got a brain damaged old geezer frantically puffing away at the balloon that will eventually burst and throw this country into recession. Alan Greenspan is "brain-damaged", and Kissyputscalls is "right"?

To: KeepItSimple who wrote (66226)	7/5/1999 4:10:00 AM
From: dbblg	Read Replies (1) \| Respond to of 164687

>>This was after Easy Al made the unprecedented move of staying "neutral" as the irrational exhuberance continues to roll along. 1. Reverting to a neutral bias after a rate hike isn't unprecedented. Remind me, when was the last time the FOMC didn't revert to a neutral bias after a tightening? (Until recently, the minutes and bias didn't come out until much later, so it wasn't as dramatic.) 2. The market would have rallied strongly anyway. The yapping heads on CNBC would then have said that the bond markets were applauding the Fed's vigilance. The rally will actually probably be smaller and shakier than it would otherwise have been, since the Fed has now reinserted some uncertainty into the market.