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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (5530)	2/18/2002 11:27:58 PM
From: John Pitera	Read Replies (2) \| Respond to of 33421

David, that's an interesting count. It's possible the Nikkei has been doing an even more complex correction since the Dec 31st 1989 top. It looks like Pres Bush, said devaluation when he meant to say deflation to the Japanese Media. But in truth the Japanese have all kinds of problems going on. On a seperate note you have to wonder if we can really trust these US productivity numbers. We know what Stephen Roach would say -g- 08:10 ET 10-year: +3/32..4.931%....GNMAs: unch....$-¥: 132.81....Euro-$: 0.8706 Euro still suffering from the productivity gap between the US and Europe. Treasury Secretary O'Neill said yesterday that the 3.5% productivity growth in Q4 suggests that "the US is in a different league than almost all other countries in the world." Still think the euro needs to shake its largely external focus. Labor market reform would certainly help with that dynamic. Equity inflows do suggest the potential for a heightened emphasis on shareholder value, which will help to promote creative destruction.