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To: DaveMG who wrote (13010)	7/27/1998 1:27:00 PM
From: limtex	Read Replies (1) \| Respond to of 152472

DMG - Well if you are right and from what he said and the way the market has subseqently reacted it looks very much as if you could be then why shouldn't anyone who cares about his net worth or retirement possibility not just get out of the market now and stay out until it has reached alevel that Mr G feels is acceptable? L

To: DaveMG who wrote (13010)	7/27/1998 1:52:00 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 152472

Dave, yes, it is Barton, I thought there was something that did not look right about Martin. The next buzz word is going to be "reflation". Japan and most of Asia need reflation. US monetary policy has to ease but Greenspan cannot do it without sending the market to super exuberance. Can you imagine if he had said rates need to come down last week? We would be at DOW 20000 by now. The Japanese are stuck in a similar situation. They cannot start reflation without taking some extremely unpopular steps. So both governments are playing this "fool the public" game with the supposedly noble objective of ochestrating a somewhat soft landing. Ramsey

To: DaveMG who wrote (13010)	7/27/1998 1:54:00 PM
From: engineer	Respond to of 152472

You already have a 5% dip from his speech.....maybe everyone is just following his directions....

To: DaveMG who wrote (13010)	7/27/1998 3:39:00 PM
From: John Cuthbertson	Read Replies (1) \| Respond to of 152472

"IMO we have witnessed a failure in the way capitalism sometimes allocates resources. The places which have needed capital the most, ie Asia have seen enormous outflows, cash chasing cash flowing into speculative assets here and in Europe." Dave, But perhaps you could equally well say 'the places that have received way too much capital investment in recent years have seen enormous outflows.' In other words, what we are seeing now is perhaps not the original failure in resource allocation, but the (painful) process of correction of such a failure, this having been caused in large part by the interventions of various governments in the markets. ==John