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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (63797)	1/24/2000 8:12:00 PM
From: Cooters	Read Replies (2) \| Respond to of 152472

<<Can anyone tell me who the market mavens are blaming for today's market sell off? >> I believe Snyder(H&Q) was sweating out QCOM's earnings release and had some type of allergic reaction to polyester. Coots

To: waverider who wrote (63797)	1/24/2000 8:57:00 PM
From: Jim Willie CB	Respond to of 152472

culprit was interest rate fears an Atlanta Fed governor (bank president?) spoke publically she said three 1999 rate hikes failed to slow down the economy she indicated one or two more hikes at least would be necessary this year I have said this about a dozen times before the most miserable statisticians in the USA practice within the field of economics 1) the belief that unemploymt under 5% is inflationary (wrong, people compete with machines much more now) 2) plant utilization rate over 85% is inflationary (wrong, mfg shipped offshore more now, and Mexico is 51st state) 3) money supply growth exceeding GDP is inflationary (wrong, US$ is medium of exchange on wide basis internationally) 4) GDP growth over 3% is inflationary (wrong, productivity far exceeds measured levels) premise #4 is the myth in question now it may take another year or two to dispel this myth the Fed and FOMC believe they know better than the Bond Market they believe they know the maximum sustainable growth levels the secret to Greenspan's success is matching the Fed Funds rate to the 3month Treasury Bill (laissez faire) I believe we are in for a 25 basis point hike / Jim