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

To: Freedom Fighter who wrote (77340)	3/9/2000 11:33:00 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

Wayne: You may have noted that in an earlier post, I suggested that it is a good thing to have BGR around. In spite of his prickly and occasionally arrogant style, he nevertheless is not without brain power. My particular interest in seeing him stick around is that he provides an excellent articulation of how the more intelligent bulls see the landscape, and this is a worthwhile thing to attempt to understand. Debating with him isn't easy as he sloughs off or ignores questions or points that do not mesh with his perspective (nothing terribly wrong with that, as we all do this from time to time, but it can be an annoyance). Additionally, he frequently endeavours to put his adversaries on the defensive through the use of red herrings, by throwing out new questions, or by turning your phrase slightly to alter its intended meaning. This latter methodology is more frequently found in practicing litigators than in engineering types and unfortunately, it is often interpreted as an attempt to intimidate or deride one's debating opponent. Whether this bespeaks his motivation, whether it is just the trademark of an aggressive ego, or whether he does this just to keep us all thinking, is not for me to say. At this end, I just ignore the jibes and concentrate on the posts that have some meat in them,.... or those that are fun to knock out of the park. (g) Best, Earlie .

To: Freedom Fighter who wrote (77340)	3/9/2000 11:34:00 AM
From: BGR	Read Replies (1) \| Respond to of 132070

Wayne, 1. Then I must confess I do not get what your point was in the initial post and would appreciate further explanations. 2. Wayne, from one engineer to another, if tuning your database makes your queries just as fast as tuning and praying, isn't praying superfluous? Bond yields are derived of future growth prospects. Focus on the thing that matters, real (as in inflation-adjusted) growth. You didn't say that growth doesn't matter, but you did say that it is one of the several factors, bond yields being another. That is superfluous, my friend. Adjusted for risk, junk bonds are just as attractive as blue chip ones. The market takes care of that. As for doemstic savings and trade deficits, these are yet to be understood phenomena. I have combed through the academic literature of the 1980's and found that none could foresee the situation in the 1990's and there was no conclusive evidence that trade deficits have specific effects on the economy - positive or negative. Of course, popular economists are sure that trade deficits are bad, period. ;-) 3. Whatever. Central Banks often work with each other to reach policy goals. That is usually stated in their statement of direction. Nothing new there and hasn't been for centuries. Why is this a big deal? -BGR.