To: Jim Willie CB who wrote (9870 ) 3/30/2000 6:53:00 PM From: Raymond Duray Read Replies (1) | Respond to of 35685
Hi Jim, Nice to see you got a 'cool post of the day'. I had one a few weeks back, I tried to get the SI staff to rename the feature: "The Kuhl Newel". Alas, to no avail... Sm:)e. I am in basic agreement with you on the problem with the rear view mirror micromanagement of the economy. I would only say that there is one subject upon which I'm in agreement with the Chairman, and that is in regards to the FRB's inaction on the margin rate requirements. Here's something from today's column by Caroline Baum, at Bloomberg.com. I have been reading her regularly now for about a month and I am delighted that her commentary is available to the ordinary Netizen. She formerly hung her hat at Telerate and was not within my budgets. Here's today's effort: quote.bloomberg.com (Cut & Paste into location box if needs be) And here's a little backgrounder: worth.com <snip> 96/04 The Merry Mistress of Bonds Every day Caroline Baum launches her bond market column into cyber-space. Everyone who counts listens. By Jim Melloan "Hi!...What's new?...I've heard some real money is selling...tens and bonds...Have you turned bearish on me?...I'm chuckling about the Hillary stuff...She's in deep doo-doo now...Now it's a monetary-policy thing, not a fiscal-policy thing...I have trouble understanding it from a Keynesian point of view...Did you notice some of these Eurobond deals are coming flat to Treasurys?...Anyway, I'm going to go write a little something. Have a good day." Caroline Baum, "the only person who can make the flattening of the yield curve sound pornographic," according to Federal Reserve Chairman Alan Greenspan, is working the telephone. She is possibly the most influential -- and certainly the funniest -- columnist covering the U.S. government securities market. She is the unchallenged mistress of the biggest, most liquid, and most important market on the planet. Sometime near the end of this year Baum will write her four millionth word on the Treasury market -- only a tiny fraction of which has ever seen print. That's because her twice-daily column appears on the screens of Dow Jones's Telerate, the high-priced on-line information service that is the data source in bond tradingrooms around the globe. Baum's column is among Telerate's most popular pages. She is,says a major bond trader, "read by every important decision maker"in a market that, more than any other, determines and reflects the state of the global economy. [Ed. - A typical quote:] "Unfortunately, the religious right...has determined that the only output that needs stimulating is reproduction. The $500-a-child tax credit is the piece de resistance." Bon Chance, Ray