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To: Alex who wrote (5913)	1/14/1998 11:44:00 PM
From: Terry Rose	Read Replies (1) \| Respond to of 116791

Alex. I just hope that this article lands on the cover of Business Week. The main thing overlooked in this pipe dream, is what the upcoming devaluation of the dollar will do to commodity prices. At that time even the rigging of the CPI will not be able to hide inflation. I suspect Greenspan knows that inflation is becoming more embedded each time they pass up raising rates at the FOMC meetings, but with the Asia mess he is taking a calculated risk. I don't think the Fed will do anything at their next meeting, and let the market determine interest rates. The inverted yield curve is a new experience for me. Does anyone who has been through this before have a clue as to what happens next? If this continues for very long wouldn't the banks get hurt in that it is more expensive to borrow over night than for two years. That would be poetic justice.

To: Alex who wrote (5913)	1/15/1998 12:59:00 AM
From: Terry Swift	Respond to of 116791

Alex: Ah ha. The ultimate contrary indicator. A major piece by business week on any current trend means the bottom or top is in. If this was a cover story, then the turn should happen within a couple months. Terry