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To: Bert who wrote (169127)	5/30/2002 3:47:56 PM
From: Tom Smith	Read Replies (1) \| Respond to of 436258

mips1.net

To: Bert who wrote (169127)	5/30/2002 4:16:02 PM
From: yard_man	Respond to of 436258

>>Kudlow pumping gold? << In the immortal words of WARIO: OH NO!!

To: Bert who wrote (169127)	5/30/2002 4:18:15 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

correction not nearly done, then? >>In the Olympics, athletes go for the gold. In our recovering economy, the gold story is simply too good for investors not to get back in the games.<< Well he still has a quarter of his wits about him. <g>

To: Bert who wrote (169127)	5/30/2002 9:50:32 PM
From: rolatzi	Read Replies (2) \| Respond to of 436258

I hate to have to parse Kudlow but his argument is that it is time to get back into the stock market. So right now, the clear message of this year's gold rally is that there's been a shift in Federal Reserve policy from deflation to a certain amount of reflation. Essentially, the gold spike points to a big Fed policy change: the basic money supply, or monetary base, controlled by the central bank has stopped shrinking and has resumed a more normal rate of increase. This is welcome news. This means a good deal for the economy and the stock market. It means that businesses will gradually recover from a nasty deflationary credit crunch, and it signals an end to the business contraction. Already, industrial production and capital-goods orders are turning up. And with lower tax-rates on small and large businesses in place, this recovery process will receive the nurturing it needs.