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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (13617)	5/4/2000 10:00:00 AM
From: Wally Mastroly	Respond to of 15132

Text of today's Greenspan speech: bog.frb.fed.us

To: Wally Mastroly who wrote (13617)	5/4/2000 10:04:00 AM
From: Justa Werkenstiff	Read Replies (4) \| Respond to of 15132

Wally: I think a 50 basis point move is a given. And I think it has been discounted by the equity markets to a certain extent. I think we may see a rally in the less interest rate sectors of the economy and this will be our relief rally. Galvin thought we would get a relief rally after the hike. I think we get any rally now. Greenspan does not want to kill this recovery. People get on his case and say he does not get the "new economy" and criticize him for raising rates. Total BS. He gets it in his own way. We see that in his speeches all the time. And believe me, if this was 1994 he would be choking the economy by now instead of going gradual. The man has changed and we have to change with him. So he will keep going at his own pace. Brinker is right -- people who want a quick end to this process are in the twilight zone. One must pick his or her investments in this environment or go to cash. I think one of the funniest talks is of a hike between meetings. Like inflation can't wait two weeks. Like Mr. Gradual is going to send an alert message to the market to increase volatility. Give me a break. This was a sure sign of negative sentiment.