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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: abstract who wrote (25823)	12/19/2000 12:44:24 AM
From: Jim Willie CB	Respond to of 65232

simple, interest rates should be controlled by free market now, 3mo TBill yield is 5.8%, fully 70 bpt below FedFund rate Greenspan is more out of step with the free bond market than in any time in my 20-yr mammory Mastercard debt, second mortgage debt, corporate commercial loans, overnight bank loans, they are all linked to the exhorbitant FedFund 6.5% rate why ??? Federal Reserve takes in money at 6.5%, pays out 5.8% why ??? is this some kind of federated mafia ??? tie the FedFunds official rate to the 3mo TBill yield PERIOD, END OF ARGUMENT, DONE, EARTH TO GREENNUT he is hitting the brakes, no, slamming the brakes a 25bpt rate cut still has corporate bodies crashing into the dashboards get used to layoffs get used to earnings going into the crapper get used to 5% weekly losses to Naz up one step, down two, up one step, down two... from here until March just give me the kneejerk mindless moronic rally here I need to sell my longs, then go short Naz might get to the 18dayMA at 2800 next then turn the lights out until late January when oversold condition can be relieved once more by Fed hopes then turn out the lights until late February is that plain English enough? sorry for the rant, but I personally prefer free enterprise and free markets I suck bigtime in controlled markets / JW