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To: GVTucker who wrote (98091)	2/2/2000 5:44:00 PM
From: L. Adam Latham	Read Replies (2) \| Respond to of 186894

GVTucker: Re: Look at any industrial commodity. Aluminum and nickel have both doubled. Platinum has increased also (though it hasn't doubled). Why do you think gold is still hovering around $300? Is it because of last year's dump of gold by the UK? I'm no inflation or commodities expert, but doesn't the price of gold typically lead inflation? I'd appreciate your thoughts. Thanks, Adam

To: GVTucker who wrote (98091)	2/3/2000 6:43:00 AM
From: nihil	Respond to of 186894

It is a mistake to believe that Greenspan controls the Fed or the FOMC. There are several serious hawks, and others on the verge. They are pushing Greenspan to tighten up and kill off the boom (and weaken Gore). Greenspan is not really a convinced believer in the "new economy." The Treasury is playing games with debt policy and has reduced expectations of inflation by creating shortages in the long bonds. This is a powerful pro-Gore move. There is powerful pressure by State and Treasury and Commerce on Japan to kick start recovery and weaken the yen and increase capital imports from the US. This is another pro-Gore move. Greenspan is in the middle. He wants pressure from the Street, investors, and business to continue the expansion.

To: GVTucker who wrote (98091)	2/3/2000 6:55:00 AM
From: nihil	Read Replies (2) \| Respond to of 186894

It is useless to use monetary policy to resist rising prices of commodities which are determined in world markets. The US produces little oil, and higher interest rates will merely reduce exploration and development of domestic oil. The US produces no nickle and little aluminum ore. Higher interest rates will have no effect on moderating high mineral prices. Jst the reverse. Commodity prices are rising because of the Asian recovery and European improvements. The real boom in the United States is in technology. Semiconductors, communications, medical and pharmaceuticals are growing rapidly. Increased interest rates will merely restrict expansion and prevent prices from falling. For example, Intel plans to spend five billion on new fabs and cut Celeron production costs by 20 per cent and Pentium III costs by 50 per cent. This means much higher margins or lower prices (or both). It would be a disastrous mistake to kill off this domestic boom when the world economy is beginning a coordinated expansion. This economy needs time and people to grow. We need to admit additional highly educated or skillable immigrants, especially from Asia. There are 10's of thousands of migrant technologists who are not at all sure they can immigrate because of the inept, slow, incompetent INS. Mr. Clinton, knock down this wall!

To: GVTucker who wrote (98091)	2/7/2000 7:51:00 AM
From: Amy J	Read Replies (1) \| Respond to of 186894

RE: "And that water is getting awful hot right now. It isn't just oil prices, either. Look at any industrial commodity. Aluminum and nickel have both doubled. Prices for all paper products are up sharply. I know I'm preaching to the crowd with you, Jim, but IMO, inflation is here, and " Hi GV, I tend to agree with your post. Prices are going up on a variety of different things. What are your thoughts re: stock market behavior if this heats up more? Regards, Amy J