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

To: boris_a who wrote (129731)	12/15/2000 11:14:11 AM
From: Mike Torrence	Read Replies (2) \| Respond to of 1571042

He has changed. Inflation this year is annualizing less than 3%. Productivity is annualizing at >5%. The bond market is telling us that there's no inflation. Disinflation is our chief worry. Greenspan wants to see unemployment at something closer to 5% rather than the 4% rate that exists now. Greenspan read the Yale prof's book which introduced him to the concept of "irrational exuberance" and the Chairman decided, rather than waiting for the market to sort itself out, to intervene. Now he's staring at real problems. These earnings warnings didn't just appear cyclically. Oil price increases and shortages came about because OPEC has little respect (and no fear) of the current administration in the White House. Thankfully that should change soon. Bush and Greenspan should chat with Greenspan doing most of the listening. This market meltdown is contrived. Greenspan is one of the causes. IMHO as always.