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To: Mark Fowler who wrote (73955)	8/15/1999 11:03:00 PM
From: GST	Read Replies (1) \| Respond to of 164684

Mark: re soft landing and <hell who wants to save here when yields are so low> US policy has been bad for savings and good for stocks -- at this juncture, the 'unspoken' policy is likely to favor a drop in stocks and a rise in rates to rebalance this relationship. The US cannot say they favor a weak dollar. Nor can the fed say, 'lets take the stock market down'. But policy no longer seems intended to support the dollar or stocks. Will this bring a 'soft landing'? Perhaps. But that is the optimistic view.