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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: s berg who wrote (76141)	4/29/2001 1:27:10 PM
From: Mike M	Respond to of 99985

The issue may not be us fighting the Fed but rather whether the Fed is impotent to fight a secular bear. Your point is well taken. I, on the other hand, have always found surviving the short run leads to the possibility that one can survive the longer run. I make no predictions about the FED's ultimate ability to completely cancel economic cycles. I once asked one of my employees how he recommended approaching a long and arduous task. He replied, "The same way we would eat an elephant, one bite at a time." The ability to string the short terms together gives us a mechanism for approaching the struggle the FED faces. Until we see monetarism fail, we are probably wise to expect the generally expected outcome of the FED's actions. Many thought back in March of 2000 that the FED's actions weren't going to derail the high tech economy...WRONG. Many now believe that the FED is pushing on a string. Others see inflation around the corner. I think the jury is still out. But, I'm not betting against the FED.