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To: JF Quinnelly who wrote (7740)8/13/1999 6:00:00 PM
From: Investor2  Read Replies (1) | Respond to of 15132
 
Re: "The inflation of the '70s was the result of the Fed monetizing Treasury debt, which is now prohibited."

How is monetizing the debt prohibited?

Best wishes,

I2



To: JF Quinnelly who wrote (7740)8/13/1999 6:16:00 PM
From: Hank Stamper  Respond to of 15132
 
JF Quinnelly wrote: "Greenspan will be looking for wage-push inflation and capacity restraint problems."

Yes, but not Mr. Market. He was delighted by today's numbers and appears to have forgot or at least put aside the indications of wage pressure and a slow-down in productivity.

The big moves today may signal the upward march to test the recent highs. Sometimes the drama of it all is a delight!

Ciao,
David Todtman


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