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To: Hawkmoon who wrote (37912)	7/28/1999 1:18:00 PM
From: Zardoz	Read Replies (1) \| Respond to of 116761

Stocks may climb here in the US, but if people taper off their spending in the latter part of the year, adjust their portfolios out of sheer psychological fear... We are talking about USA, the giant consuming machine that never closes it's mouth between bites? I'm waiting for the first car commericals to advertise y2k models, and suggest starting the century off correctly. I believe stock market turmoil overseas will definitely bleed over to our shores. The only question is how much will this fall shave off the Indices?? In any event, T-bills are a no brainer in my mind at these interest rates (artificially high, imo, due to excessive competition from corporate bond offerings and AG's jaw-boning, both Y2K induced.. Hmmm, I agree, but it is possible that nothing will be shaved off the indeices at all. Just a common complacency of a market trading in a over valued range. But that said, I believe that Y2K has already slowed the economy down considerable, and that come 2K, the economy may clamber higher, till Greenspans successor puts a stop to it. L. Summers: Did you hear his comments the other day, when he said:"The strong Dollar has served the US well." Maybe the recent drop of the US Dollar can be attributed to that comment. Is he going to act to help keep it strong? hmmmm. Hutch