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To: Bobby Yellin who wrote (42958)	10/14/1999 11:23:00 AM
From: Tunica Albuginea	Respond to of 116779

Bobby, " Market Wealth " I think is the last and the weakestÿ indicator evidenced by the fact that Alan G pulled it out of ÿhis hat only 1 month ago. It may " slow " consumer spending a little but it will not change the fundamental fact that 70 of inflation is caused by wage increases and 20% by oil and they ae both heading up. Added to that is health inflation which will be up in 2000 for the first time in 15 years. The overall picture though is what is rotten to the root. Without rehashing the well known US rot, let us focus on Japan: What the US is essentially asking Japan to do now is devalue the Yen! Print more Yen. OK so what? Well, Japan has an even bigger National Debt than the US. We are essentially moving right along the path of perdition of borrowing more and more from the National Treasuries and asking our descendants to somehow come up withÿ the principal and the interest payments. We are totally oblivious that this system of borrowing to pay for entitlements and " to stimulate the economy " the old Keynesian system has been totally discredited and that tax reduction is the only way to get the economy going asÿ we pointed out earlier on this thread. We are going down and going down big, TA : Tunica Albuginea who wrote (42957) From: Bobby Yellin Thursday, Oct 14 1999 10:13AM ET Reply #42958 of 42960 with the excesses being removed from the market daily and with bond rates going up..doesn't this also help the fed fight inflation? it is getting rid of some asset inflation and the wealth effect spending from market? unless it gets out of hand...it does have an upside to it?

To: Bobby Yellin who wrote (42958)	10/14/1999 11:57:00 AM
From: William JH	Read Replies (1) \| Respond to of 116779

Re: Inflation. From the Orange County (Ca) Register, October 8, 1999. "The average monthly cost of a two-bedroom, two bathroom apartment in Orange County was $1,152 this past summer, up 7.8% from a year earlier. Vacancies shrunk to 2.6%, according to Real-Fact, a Novato company that tracks apartment rents." House prices are up much more than that over the same period. A couple of recent sales in my neighborhood indicate that houses are selling for 20-30% more than a year ago.