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To: Skeeter Bug who wrote (66300)	2/8/2000 4:00:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Excuse me, but who is Michael Burke ? Jon. eom.

To: Skeeter Bug who wrote (66300)	2/8/2000 4:08:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Barton Biggs is NOT my favorite "expert." Jon. eom.

To: Skeeter Bug who wrote (66300)	2/8/2000 6:00:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Okay, Mr. Bug (Skeeter, to your close associates) -- I just read (or -- pretended to read, since this stuff is almost totally unreadable, it's so boring) the Paul Kasriel (of Northern Trust) piece on exploding monetary numbers. I used to read Mr. Kasriel's stuff almost daily (about a year or two ago), since I am very heavily involved in interest rate futures trading. After a while, it was clear to me that no matter what the data was (were), Mr. K always twisted it into a "it proves there's inflation" mode of interpretation. This becomes "old" very quickly, especially when inflation has been trending sideways to down for roughly ten years now. I stopped reading his stuff, figuring my time was better spent watching Tom & Jerry cartoons with my kids (among other things). I cannot refute what he says. I did study this stuff at business school, but I did not "get it" (the way I "got" things like, for example, marginal cost (in introductory micro-economics)). As Lawrence Kudlow says -- common sense indicates that if any of this stuff were perceived to be a problem, the foreign exchange value of the dollar would not be high (and gold low). I do not think the U.S. is on the verge of big monetary expansion. I think Mr. K is "data mining." Jon.