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To: Defrocked who wrote (69802)	10/18/1999 10:19:00 PM
From: Investor2	Read Replies (1) \| Respond to of 86076

1. Thanks for the info on bills. 2. What's "BIOG?" Best wishes, I2

To: Defrocked who wrote (69802)	10/18/1999 10:37:00 PM
From: IceShark	Respond to of 86076

Well, that is why I indicated that you really have to measure the real rate over some extended period of time to get close to it because it is impossible to exactly measure inflation expectations, but since the Bills are as short as we have they should contain the least amount of other nominal interest rate components, i.e inflationary expectations. In 1800 the CPI index was 51.0. After nearly a century and a half and in the middle of a world at war, 1943 it was 51.8 (1967 = 100). CPI numbers are and have always been a problem, much less expectations. -g-