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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (72324)	12/24/1999 11:41:00 AM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Mike, I agree except that we are looking a a 6.5% long bond and 101 yen to the dollar, neither of which AG wants on his record. If he keeps on being easier than Madonna at Ricky Martin's condo, then one of these days the bonds and the buck will take mega swoops down and he will have no choice. I keep thinking he will see that risk and take preemptive action. But, if not, the bond vigilantes will eventually hang him. I still expect the crash before the end of the 20th century, which gives me a year and 7 days. <g>

To: Mike M2 who wrote (72324)	12/24/1999 12:04:00 PM
From: SeaViewer	Respond to of 132070

mike: In the Fed press release after the latest FOCM, AG was saying the excessive liquidity is largely due to Y2k. I think he is asking bond traders to buy some. But we all know AG may not do what he says. I still think AG is a smart man, he knows what exactly will happen. He wrote a lot of excellent paper about '29 crash. But I don't know why he went so far? Happy holiday to all! Jeff

To: Mike M2 who wrote (72324)	12/24/1999 9:44:00 PM
From: valueminded	Respond to of 132070

William/Mike: I agree with william. AG will not drain credit he has no credibility with the bond market anymore. (with wall street and the media yes but not with the bond market) I also expect the bond will collapse, yields will hit 8% by midyear. Bonds will go on a tear and spike into the double digit yields by 2001. It will be interesting to see their effect on the stock market. From my perspective, the bond market is much easier to predict than the stock market. At least it behaves somewhat rationally. (ie increase supply of bonds and money supply and yields go up) In wall street, increase the number of ipos shares outstanding, etc and the market prices them at a higher value. counterintuitive in my opinion