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To: Defrocked who wrote (6521)	8/7/1998 11:26:00 AM
From: geoffrey Wren	Read Replies (1) \| Respond to of 10921

Anyone: Macro-economics aside, who has a projection for the next surge of consumer demand? Could it be electronic cameras? They are not that far from being practical now. I looked into voice recognition programs, but now do not see them becoming mainstream until five years or so out. Still don't see much reason for consumers to trade in their Pentium computers anytime soon. Geoff

To: Defrocked who wrote (6521)	8/7/1998 11:42:00 AM
From: Jim Willie CB	Respond to of 10921

money supply expansion is a function of several things... I point to lessened home mortgage refinances, but you are right about slower business activity... fewer new industrial plants, fewer small business loans maybe doubt most refinances for mortgages involved much more debt than original balance... I did mine last Jan98 for another few $k other hidden endpoint for US money supply expansion was Asia... Greenspan kept pumping, US imports kept coming, Asian Tigers kept redeeming TBonds... recall our balance of trade deficit / Jim Willie