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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (20590)	4/27/1998 9:32:00 PM
From: 007	Read Replies (2) \| Respond to of 95453

Would you prefer a monetarist policy a la Paul Volcker, who single handedly brought on a recession thinking that inflation was caused by the money supply when it was due to our good friend crude oil? I think Greenspan has done an excellent job because he is more of a Keynesian, and I believe that he will raise interest rates to reduce growth and investment only if necessary to combat inflation. Without any real signs of inflation, and with the current fiscal surplus (Keynes' prescription for a heating economy), it's doubtful that Greenspan will do anything unless he sees both signs of inflation AND signs of continued overheating. The economic news that's coming out over the next two weeks is key. If we have any signs of a soft landing, this market will base and tear upwards. If instead we see higher growth rates and increased inflationary pressures, then we're in for a bigger correction. Most likely scenario is more or less status quo, which means normal correction to 8450 and then another bull run from there over 10,000. The fun part is that nobody knows, not even Sir Greenspan. In the meantime, I'm saving my laughs for the Laffer Curve. 007 PS Don't worry about the Pabst/Schlitz element. We'll just repack some of those cans with Guinness Crude for ourselves and drink with them. They'll never know... The hard part will be faking that southern twang. <ggg>