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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (13307)	1/21/1998 6:44:00 PM
From: Investor2	Respond to of 18056

RE: "Also, I thought the accepted ties between employment rate and inflation were now considered broken or at least questionable." Forgive me, I forgot that we are in a "new era." "This time it's different!" Best wishes, I2

To: Lazarus_Long who wrote (13307)	1/24/1998 12:44:00 PM
From: Defrocked	Respond to of 18056

JM, sorry for the delayed response...I've been trying to cut down on intrasession posts (seems I make more lucre when I post less often during trading hours<g>) The 7% calculation came from a simple annualization of the increase in hourly wages paid from the December employment report. This number should not surprise anyone given that money supply has also increased by that factor or greater over the last year. Tuesday's ECI number will probably reflect 7% plus wage inflation which is why the Fed has been so concerned about these statistics recently. FWIW.