Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (89884)	2/24/2001 4:12:09 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Mike, Excellent except for the attempt to use some sort of German hybrid for spelling Kurt's name. <g>

To: Mike M2 who wrote (89884)	2/24/2001 7:26:43 PM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

The Richebacher Letter l2l7 St. Paul St., Baltimore, Md. 2l202 FEBRUARY -- The impending U.S. recession should basically be seen as a repeat of the 1990-91 "post-bubble" recession. But the underlying and financial imbalances strangling the economy are far worse today. Therefore the impending recession will run much deeper and last far longer than the consensus expects. Excess of confidence is the last and final excess. Once people begin to realize the extraordinary severity of the unfolding recession, the false confidence will, after all, collapse -- with dramatic effects, particularly on the market and the dollar. American policy-makers, like most economists, expect no more than a gentle depreciation of the dollar, reflecting a mild recession. Seeing the worst postwar recession unfolding, we expect the dollar to fall to a new postwar low against the European currencies. A serious dollar crisis, cutting off capital inflows, would badly hit U.S. stocks and bonds alike, putting long-term dollar bonds at risk. The dollar-based investor who switches into eurobonds can look forward to a very big currency gain. -- Kurt Richebacher

To: Mike M2 who wrote (89884)	2/24/2001 7:27:46 PM
From: Thomas M.	Read Replies (1) \| Respond to of 132070

Greenwich Capital Weekly Market Perspective 600 Steamboat Rd., Greenwich, Conn. 06803 FEBRUARY 20 -- Fed Chairman Alan Greenspan, as he often does, said something for everyone last week. He was cheerleading the notion that things didn't worsen in January, and that the productivity trend would support the economy. This helped fuel the correction of leveraged positions. But for bond bulls, those of us who suspect that the Chairman isn't publicly letting on to his deepest worries, "downside risks predominate." Clearly a lot hinges on business and consumer confidence, both of which continue to fall and aren't helped by a weakness in equities, the tightening of credit and the nastiness in the business cycle. What's the cure? Surely, the Fed continues to move the fed-funds rate lower, but maybe what's needed is more time and more pain. -- Peter D. McTeague HO HO HO! Tom