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To: Boplicity who wrote (140983)	8/30/1999 12:25:00 PM
From: Lee	Read Replies (2) \| Respond to of 176387

Hi Greg,..Re:. Media coverage of the markets is pathetic. Thanks very much for posting the truth regarding AG's remarks at Jackson Hole last Friday. It is gratifying to see that there are some honest reporters/journalists still employed. The writer confirms that the headlines we get daily from CNBC and elsewhere are nothing more than sensationalistic tabloid type reporting. Best, Lee

To: Boplicity who wrote (140983)	8/30/1999 12:26:00 PM
From: Mehitabel	Respond to of 176387

Greg-- thanks for a great post that clarifies the Greenspan remarks. regards

To: Boplicity who wrote (140983)	8/30/1999 1:18:00 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 176387

Greg, GREAT POST. (140987) ALL SHOULD READ IT. It allays some of my fears. <central bankers treat the proposition that they should attempt to rein in stock prices as preposterous.>

To: Boplicity who wrote (140983)	8/30/1999 3:51:00 PM
From: DOUG H	Respond to of 176387

Greg, Great find, this is why I always make a point of listening to the chairman's remarks instead of reading reports of what was said. """"What Really Went Down Enough media diatribe; suffice it to say that you should always read these speeches for yourself if you want the truth."""""""""

To: Boplicity who wrote (140983)	8/31/1999 8:24:00 AM
From: kemble s. matter	Read Replies (2) \| Respond to of 176387

Greg, Hi!!! RE: Briefing.com At The Jackson Hole Fed Conference 30-Aug-99 06:00 Est So many THANKS for posting this...There is a second lesson we should all remember from this...The media frequently has far fewer brains than most of us...Yet, they wish to gain that "20 minutes on a soapbox" and be known as the "one" who dug up the "news"...Reading and reacting to the folks we have learned to trust is what everyone should follow...Alan Abelson has been a "favorite" example of skepticism and arrogantly inaccurate predictions..If there is a "crime" in his reporting..IMO it will be that his publisher will continue to allow him to spew words that for the better part of this decade have been wrong...A close friend of mine started a chain letter because of his remarks...(HE obviously read the entire speech.. :o)... Where is the accountability? RV, I hope it works! From briefing.com And finally, there was Alan Abelson, who must have quickly skimmed the speech before deciding to claim that Greenspan "indicated that even earnings have been hoked up, in some instances by capitalizing expenses." Had he been paying attention, Abelson might have noticed that Greenspan actually argued that earnings have been understated because many capital outlays have been expensed -- precisely the opposite of what Abelson claimed. But then Abelson's been wrong for a decade, why change now? After reviewing the factors suggesting understatement and overstatement of corporate profits, Greenspan concludes that "it is reasonable to surmise that undercapitalized expenses have been rising sufficiently faster than reported earnings to have more than offset the factors that have temporarily augmented reported earnings." That's a pretty clear statement, but apparently Abelson was too busy playing with his thesaurus to read that far.

To: Boplicity who wrote (140983)	8/31/1999 1:51:00 PM
From: Sonny McWilliams	Respond to of 176387

Thanks for posting this article. I am out here in Seattle on vacation and I guess I fell for all this hoopla since I did not have enough time to check things out entirely. I feel a bit better for having defended AG tirelessly every chance I got. But I have to admit that this time I was wavering a bit, especially after his statement of "irrational exuberance" a few years back and then kept talking about not interfering with the stock market. I thought his statement this time was a bit tongue in cheek when it has been reported that his wife is knee deep in stocks. Anyhow, I generally listen very carefully to his speeches and know how things are being taken out of context. Maybe things will calm down again. Ever since this stuff was reported on Friday the markets have stalled some. After some profit taking now maybe things will go the bulls way again. gg. Thanks again for posting the article. news.com Sonny