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

To: eddie r gammon who wrote (25359)	1/11/1998 9:58:00 PM
From: Earlie	Read Replies (2) \| Respond to of 132070

ERG: How coarse of you to suggest that one of America's premier brokerage firms might be motivated to publicly tout an obvious piece of fluff for monetary gain derived from an underwriting fee......for shame. (g) I can't wait to hear what "Dear Abby" has to say as this market tanks. No doubt she will maintain a bullish perspective all the way down. Most of her ilk think that so long as inflation is held in check, interest rates won't rise, therefore the markets are in great shape. They also think that this bull is based on solid advances in productivity. Both are fallacies. Obscene levels of foreign central bank purchases of US treasuries allowed Allan to maintain low interest rates as well as a wide open money tap. This is what has provided the boost to profits. Notice that those central banks are no longer buying (now selling?), and that Al is buying up his own paper. Productivity has actually been relatively poor in comparison with past cycles. Inflation is alive and well, residing in the financial markets rather than in the PPI. Richebacher, who has been mentioned on this thread by Magner, has laid this out in fine detail for any who are interested. MU is one of the best shorts on the board....the fact that it has fallen from $60. inevitably attracts some "bottom feeders" who don't own depth sounders. Single digits before Summer. Best, Earlie