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To: jhg_in_kc who wrote (140817)	8/27/1999 8:28:00 PM
From: jttmab	Read Replies (2) \| Respond to of 176387

jhg, It gets better after the market...an AP newswire says... "By EILEEN GLANTON AP Business Writer NEW YORK (AP) -- Stocks fell Friday after Federal Reserve Chairman Alan Greenspan voiced concern over the highly valued stock market, striking fear in investors who interpreted the remarks as a sign the Fed isn't finished raising interest rates....." jhg, were you struck with fear today? I don't think I was. Later in the same AP wire...... "But some economists took a different view. "Greenspan's comments seemed to be more of a lecture on the role of the central bank than a guarantee of what the Fed might do in the near future," said Alan Ackerman, senior vice president at Fahnestock & Co......" There is an interesting article about Greenspan in one of the links off the Post article.. washingtonpost.com An exerpt... "You can't always be sure of what he is saying. For one thing, his syntax is strange. As an example, here is an undiagrammable sentence from the speech he gave last December to the American Enterprise Institute, which included the passing mention of "irrational exuberance" on Wall Street that sent the Dow down 166 points. "The debates . . . over the issue of our money standard have mirrored the deliberations on the manner in which we have chosen to govern ourselves, and, perhaps more fundamentally, debates on the basic values that should govern our society." Pretty incendiary stuff. Nobel laureate economist Robert M. So\low of the Massachusetts Institute of Technology says Greenspan is not the first Fed chairman to employ circumlocution. "If you go back and read speeches of William McChesney Martin, or even Paul Volcker, who was a little more forthcoming, you'll find they talked pretty much the same way. They've all mastered the art of meaningless verbiage." Have a great weekend and remember that it's all transient in the long run. Best Regards, Jim