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To: smolejv@gmx.net who wrote (4123)	9/25/1998 11:43:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 11051

DJ; RE:" Und Tietmeyer ? " >I need to understand the game... I think that these "ersatz bondz" that I was studying are essentially the same as your Bertlesmann thingy. Most of us over here would rather have DEM - denominated stuff anyway {grin} As it turned out, the whole exercise was useful to me as an interesting little project, re-learning all about how dividends work and stuff, and kept me out of trouble for a week (^_^) The game was to learn something new. I love learning. I love the bliss of an obsessive quest. Had lunch "downtown" today with a group of biz-friends. Of course the conversation tended towards the Fed, kost of kapital, etc. Herr Kohl was not so important (to us) but, what everyone wondered was whether Herr Tietmeyer would co-ordinate any U.S. rate cut by also reducing interest rates in Germany. General consensus was that he was not inclined to do so; that this was a big mistake; and that the export-dependent EU would be really hurt as a result of inaction on his part... as EU exports would go down, EU companies would be forced to cut prices, and EU unemployment would be increased as a result. -Steve