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Pastimes : LVB Investment Group -- Ignore unavailable to you. Want to Upgrade?

To: Leo Mitkievicz who wrote (688)	1/5/1998 1:13:00 PM
From: tom pope	Read Replies (2) \| Respond to of 1253

Finally got around to reading Greenspan's speech. The reference to a flight from goods to money characterizing deflation was intended to contrast with his definition of inflation: >>Just as changes in monetary conditions that involve a flight from money to goods cause inflation, the onset of deflation involves a flight from goods to money<< What I get from the speech is that he's put deflation on his radar screen. He did not say what he would do about it, nor when. The rest of his speech was essentially devoted to the problem of price measurement. Some comfort to be taken from it, but essentially as Delphic as most Greenspanisms. Do you read it differently? Just came in from drowning shrimp in the surf in a vain attempt to catch whiting for a fish fry. Wish the whiting took the bait as readily as Vanni does. I hadn't realized how much I missed him.