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To: Frank Ellis Morris who wrote (141357)	9/2/1999 9:57:00 PM
From: jmac	Read Replies (1) \| Respond to of 176387

Don't wait until election time--write your congressman/woman. I did and felt great about doing it. You're right. Everytime the market seems to get going again, a Fed spokesperson makes some comment about hinting at raising interest rates. We have the highest real interest rates in recent history. No inflation yet a 6.15% 30 year bond. And, the fed wants to raise it more. The fed never liked prosperity but boy has it allowed AG to keep his job.

To: Frank Ellis Morris who wrote (141357)	9/2/1999 10:40:00 PM
From: G.M. Flinn	Read Replies (1) \| Respond to of 176387

Frank, re: our friends at the Fed .... it does make you wonder what they are thinking sometimes. There has been next to no inflation for years now. I can only guess that they have a bunch of buddies short the market.

To: Frank Ellis Morris who wrote (141357)	9/2/1999 11:15:00 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 176387

fed watches asset prices. COULD THIS BE A GOOD THING? READ ON."This sparked warnings about the dark meaning this has for stocks. Greenspan who coined the phrase "irrational exuberance," and he has from time to time let slip his view that stocks are 20% overpriced. But I take a contrary view on his comments. The fact that the Federal Reserve Board acknowledges the interrelationship of financial assets and the real economy and that stock ownership is at 45% of households, a record, means a more enlightened hand at the monetary tiller. Economic history is replete with bad monetary policy decisions in response to changes in only one variable (for example, raising rates during the late 1920s in response to perceived speculative excess on Wall Street). It is the unintended consequences of such actions that tend to be most harmful. Thus, Greenspan's broadening awareness of the global economic trends and the move toward an equity preference for wealth creation is welcome news. Remember, this is the same Federal Reserve chief who responded appropriately in 1987, 1990, and 1998. His legacy may well be to bring central bankers and their antiquated models into the 21st century." this from joe battaglia of gruntal co. HE MAY BE RIGHT. THE FACT THAT THE FED NOW CONSIDERS STOCK WEALTH AS AN INDICATOR COULD BE A POSITIVE....DO YOU SEE? JAW BONE 'EM, HECKLE EM, BUT DON'T CAUSE A CRASH, STAND READY TO ALLEVIATE HOWEVER/ ANY THOUGHTS? JHG

To: Frank Ellis Morris who wrote (141357)	9/3/1999 1:41:00 AM
From: Jack T. Pearson	Read Replies (1) \| Respond to of 176387

I bet some people think you are serious. ROTFLMAO

To: Frank Ellis Morris who wrote (141357)	9/3/1999 10:08:00 PM
From: Paul Kelly	Read Replies (1) \| Respond to of 176387

Kelley's remarks were completely benign. This silly market volatility is the result of off the wall reactions to WHATEVER is said by ANYONE.Be smart and do the reverse of the lemmings.JMHO.

To: Frank Ellis Morris who wrote (141357)	9/6/1999 1:13:00 AM
From: Catcher	Read Replies (1) \| Respond to of 176387

good post re the fed. at times i think we investors are in a no win position. AG says if inflation rises rates will be raised. then he says if stocks rise too much rates will be raised. if economic reports say inflation is up ...then be prepared for rate increase. if, on other hand reports say inflation is down, then look for stocks to rise--IN WHICH CASE RATES WILL BE RAISED. "playing" the market now means knowing AGs schedule & anticipating hios comments & their impact on the market. it seems as though it has gone to his head. never understood his role to be regulating stock market. on one hand he says technology is fueling extended positive economic times. then he is perplexed / concerned when tech & inet stock prices rise significantly.

To: Frank Ellis Morris who wrote (141357)	9/6/1999 6:27:00 AM
From: Sig	Respond to of 176387

Frank:OTOT: I don't know more about the Feds than what I see here or read in the papers. But here are some opinions: The banking community is running a highly leveraged operation , squeezing every point possible out of the difference between C/D and savings rates and the percentage charged for loans. Fighting over credit card accounts. They and politicians in office have an even greater distaste and fear of those October corrections than the general populace- because their jobs are directly at stake. Would not want people to miss payments on CC's, homes, auto loans Would prefer an upward steady growth of unknown slope. Growth is needed so loans can be paid back with cheaper dollars. Small yearly increases in payrolls, pensions and SS give people a sense of progress, a sense that somebody in government has control of budgets and pension and SS funds( this not guaranteed)(G) and a hope for more(hehe), despite the fact that (hidden)inflation kills the real progress. Summary: Greenspan wanted those two points back and got them without ruining the markets. He now has some ammunition to fight an October correction and since Asia is doing well I am very optimistic that an October correction (if any) will be minimal or fleeting at worst. Better to deal with the enemy ( or friend) we know than with a stranger. Just allow for market going down for a few days while Greenspan is speaking. It takes that long to figure out what he said wasn't all that bad. He has to discuss the fears of bankers to show that they are being considered so the initial impression is of pessimism. Sig