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

To: Link Lady who wrote (13566)	1/29/1998 4:00:00 PM
From: Simon	Respond to of 18056

<<< regarding Greenspan.>>> Wow. That should have been good for a 200 + point pop. Wonder what happened?

To: Link Lady who wrote (13566)	1/29/1998 4:01:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Wendy, his remarks are not unexpected, and frankly, one of the reasons I am bullish on the second half is that I expect AG to actually lower the discount rate the avoid too rapid a deflation. If we get three months in a row of -1% annualized inflation, I think that AG will step into the breach to prevent a spiralling defaltion (remember, defaltion means default induced deflation). Short term, however, I have a feeling that a lot of financial institutions in the world (and here as well) will have to start and write down some uncollectible debt, and I also see many more warning on future earnings. I think that in the face of these, the Goldilock scenario will have to rest for few months. A lot of ammunition has been fed to this rally, and I think this excess liquidity is pretty well soaked up. So, I would say, have a bear party, it is coming back to town. Zeev PS, that blushing Turnip must have been in the Monica camp, she blushed for a very short time and now has paled back.