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To: John Pitera who wrote (85495)	2/13/2001 1:01:36 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 86076

i believe the ECB is on its way to a healthy disagreement with the Fed...namely that inflating the credit bubble even more is not the proper cure for the disease so to speak - because that's what caused the disease in the first place. meanwhile it can point to Euro-zone inflation having picked up considerably. i prefer that to the Fed's printathons - for the most recent 3 month period US money supply expanded at an annualized rate of close to 20% - that's banana republic territory. all it does is entrenching the malinvestments that the bubble has produced...worsening the economic imbalances that have brought us to this crossroads. the Fed shouldn't try to postpone the inevitable correction/recession - it will only ensure that way that the bust will be even bigger when it finally expresses itself. it is anyway quite possible imo that this most recent bubble reliquefication will fail - in which case we could finally see stocks return to value. i'd prefer that over the inherently unstable bubble we have instead. we could make investment decisions again...as opposed to trading decisions.