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To: Tony Viola who wrote (20252)7/22/1998 3:40:00 PM
From: Sonny McWilliams  Respond to of 27012
 
Tony. Well, they way I heard Greenspan say it was: Asia is better but it is still fragile. In answering a question he said he thinks we need the IMF money and Congress has decided to wait, which is ok by me. They want the IMF a bit more accountable. Anyway, Mr. G. still harping on inflation down the road and would be ready to pounce on it with higher interest rates. He is pleased with the economy so far. No mentioning of a possible rate cut if things look like it. The market was kind of thinking he may talk about a possible rate cut if the economy slows down, no such luck. Etc, etc. He toned down a bit from yesterday but still blah, blah etc. Sorry for being so late. Just got on to look for some stocks to buy. I just bought some more HWP. Ouch.

Talk to you later. Art Cashin of PW thought the market may get into the plus column by the end of the day. Well, so far no luck in that direction. gg.

Sonny



To: Tony Viola who wrote (20252)7/22/1998 3:56:00 PM
From: Sonny McWilliams  Read Replies (2) | Respond to of 27012
 
Tony. Almost forgot. He thinks consumers may feel too rich with the stock market profits. He thinks that could be dangerous because we may be overspending because of it. He says history has proven that there will be a crash again SOMEDAY and that would happen over and over again. WOW. Pretty smart. Huh? End result: We may not have enough money to pay our debts. gg.

Ann if you read this I will answer the rest of the posts later tonight.

Sonny


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