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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (6020)	5/3/2000 2:10:00 PM
From: Pete Young	Read Replies (1) \| Respond to of 15615

There is so much good news out there. For instance Manufacturers Index (which I believe is at least a 6 month barometer) is still quite positive, peoples income is rising (finally), Govt Debt is decreasing not only in constant $$'s but in relation to GNP. (this means more money available for the private markets). YET, all they can harp on is AG and the interest rate environment. JDN JDN, Ellen, I've seen a couple of bits of information that are making me think that AG is playing a bluff game; AG is loosing influence faster than you can say inverted yield curve. What I mean by this is that because of the declining debt of the US Treasury, govt. bonds are loosing their anchoring function in markets as a benchmark for the entire credit market. Since a big part (or some would argue, the major part) of the Fed's influence over the economy comes from its ability to control the money supply by buying Treasuries from banks or letting it's purchases from them expire as needed, the steady drop in the supply of Treasury bonds undermines that control. Another consideration in this market is the incredible changes that are going on in technology around us. A recent poster summarized it neatly, IMHO: The P&L is a metric for a mature market. This is new turf, and nobody will see Warren Buffet here. Not until we hit main street and become 'safe'. So, if one cannot take the heat, one leaves the kitchen.