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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (112326)	5/24/2000 8:34:00 AM
From: Alighieri	Respond to of 1579883

The FED has been raising rates for nearly a year now yet the NASDAQ continued to soar until a couple months ago. True, however you could say that in benign 1/4 point tweaks and availability of fed funds, investors were being invited to buy technology, which is generally viewed as less dependent on interest rates hikes alone. Now with 1/2 point increases and, more importantly, strong curtailing of fed money, the Naz seems to have capitulated. Sure, valuations are high, but it is the nature of technology to value itself for strategic expectations. When the market fails to live up to those, it self corrects. I am resentful of a fed that targets the markets to cure its inflation OCD. If AG manages to slow technology investments, he will curb productivity gains, an important factor many believe key to this incredible period of prosperity. Al