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To: Sully- who wrote (3556)	2/12/2000 1:35:00 PM
From: RocketMan	Read Replies (2) \| Respond to of 35685

I like Harry Dent's demographic explanations of market cycles. If he is right, we are in the midst of a natural bullish cycle based on increased productivity, technological innovations, and population trends. This should continue for at least another 7 or 8 years. Again, if he is right, the Fed's actions are an attempt at placing a lid on this natural economic expansion through artificially manipulating interest rates, to levels well above their fair value. This can only lead to financial "imbalances," as AG loves to say, and the growing pressure will be relieved somewhere, somehow. The Fed only does one thing well. They damage the economy, then throw money at it to make it well. We are already seeing the beginnings of that as the old economy Dow companies take it on the chin. The new economy companies are less prone to be affected by this, abut when the old economy companies begin throwing people out of work, labor unions and politicians will get involved, and the Fed will once again throw money at the economy, fix the problem they themselves created, and claim credit. That will restart the tech growth for another boom cycle.