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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (8171)	8/12/1999 11:55:00 AM
From: JZGalt	Read Replies (1) \| Respond to of 18928

Tom, IMO, it is highly likely that the next fed chairman will be less capable. Greenspan has had quite a learning experience over the past several years as he has found that the indicators to determine inflation and growth are being radically changed by technology and the way productivity is being measured. I think it is unlikely that unless the next chairman is appointed from within the board that is seated, you won't have that first hand knowledge on how bad or good these indicators are. I'd vote for Milton Friendman's concept of fixing the rate of monetary growth to 3-4% and let interest rates move up and down naturally, but that is unlikely to happen. Today we must have our heroes or goats depending on the outcomes. In either case it seems to me people are way to fixated on the minute to minute gyrations here just like they were when M1 and M2 were the talking heads favorite items to discuss. Now that I'm feeling better and not watching CNBC I can't help get the feeling that they spend quite a bit of time just talking around the edges and filling dead air with this interest rate fixation. I believe people would be much better off if they concentrate more on the fundamentals and paradigm of the stocks they are buying vs. worrying about interest rate fluctuations. ---- Dave