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To: IngotWeTrust who wrote (19270)	9/18/1998 6:26:00 PM
From: Broken_Clock	Respond to of 116764

49r Crudele, Fleckenstein, Kaplan all make a nice read in counterpoint to the overwhelming hotair blast that cnbc, et. al. deliver daily. here's another individual that I've found to be quite accurate in his assessments.https://www.siliconinvestor.com/subject.aspx?subjectid=6780

To: IngotWeTrust who wrote (19270)	9/18/1998 6:26:00 PM
From: Alex	Read Replies (1) \| Respond to of 116764

You're welcome ole 49r..................... TIETMEYER: LOOSER MONETARY POLICY WRONG ANSWER NOW TO CRISES ÿÿÿÿÿLUCERNE, Switzerland (MktNews) - Bundesbank President Hans Tietmeyer repeated his view Friday that monetary easing on the part of the world's largest industrial nations would be an inappropriate response at the moment to on-going global financial turmoil. ÿÿÿÿÿ"I would warn against the view that monetary policy (in the form of lower interest rates) can solve these problems," Tietmeyer said as part of a panel discussion here on EMU. "That is certainly wrong," he said. ÿÿÿÿÿNevertheless, Tietmeyer, as he has before, stressed that the central bankers need to remain "vigilant" and watch international developments closely. ÿÿÿÿÿTietmeyer warned against a comparison of the current global situation with that following the stock crash in 1987, when major central banks cut official interest rates sharply to restore investor and consumer confidence. ÿÿÿÿÿ"The situation today is different," Tietmeyer argued. A "large part" of Japan's problems today stem from "false (policy) answers" -- in the form of "an expansive, looser monetary policy" -- that were adopted after the 1987 market crash, he said. ÿÿÿÿÿTietmeyer also warned that one should not "overdramatise" the recent global stock market corrections. These were a "health process" in view of the "exaggerations" of valuations that had existed, Tietmeyer said. ÿÿÿÿÿThere are "no patent solutions" to the various financial crises around the world, Tietmeyer continued, adding that financial authorities must examine the situation "country by country" in devising proper policy responses. ÿÿÿÿÿIn addressing the crises, it is "decisive" that the stricken countries themselves institute confidence-building reforms, Tietmeyer said. IMF financial bailout funds can be no substitute for these reforms. 13:04 EDT 09/18 c 1998 Market News Service, Inc. economeister.com