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To: dougjn who wrote (16192)	10/8/1998 5:16:00 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

"... what Greenspan really is, is a very conservative, hard money Fed chairman. He's sort of a closet Gold Standard guy..." All on the button I reckon, and the rest of the post too. If his abiding principle is 1%-3% inflation, then he is heading for slipping below that. If you check new car yards tomorrow, you will find not many buyers in the higher price bracket. Or even in the lower price brackets! This is all a great deal of fun. My years of figuring out is being tested. So far, so good in as much as it is pretty much how I thought a credit crunch might go. A shame about the Zenit crash, which didn't help MIW Incorporated. A pity I got smart and bought Qcom at $52 [on margin] in defiance of the tumble from $72 post Korean panic. Oh well, there are worse things in life. Imagine if I just forgot how to hit a golf ball suddenly and could never break 90 again! Now THAT would be bad. Talk about white knuckles on a roller coaster! I feel more like a fish being reeled in and flipped into a dinghy ready for scaling and gutting. Ramsey Su has got a LOT to answer for, going on vacation like that. Now Alan Green$pan better do his thing and print like mad to hold deflation to 3% over the next few years. He doesn't have a hope of holding inflation within 1% to 3%. I've predicted it. Now he better do it! Go on Alan, prove me right. I'm counting on it. Mqurice Going the Acampora way - turning turtle and thinking Dow 16000 Feb 2002 is a LONG way away. But then again, a bit of printing as predicted and it should get there - with or without me on board. Now MightyQ has to double to get to $80. Looks a dim prospect today! [Limtex, what happened to the natural home in the $40s? Good grief.]

To: dougjn who wrote (16192)	10/8/1998 7:54:00 PM
From: limtex	Read Replies (1) \| Respond to of 152472

Dear Dougjn - Good Greenspan summary. Personally I think the man is past it. I listened to his speech yesterday morning and I thought that this man thniks he is talking to a group of children and a group of very experienced economists all at the same time. I think that after all these years the pressure has finally got to him. He must have seen this coming and that doesn't mean comments about irrational exhuberance etc. I mean the world trade downturn. He must have seen the effect that that would have on the USeconomy a long time ago. He could have acted then but he didn't because he was so concerend about stock prices. If he was as genuine about the market as he makes out then he would care about the long term strength of the economy. We simply do not ghave to have a slow down next year. It is or was in my view wholly avoidable. But someone has put it into his head that 'people are making too much money in the market' . He is obsessed with peopleahving made money and I don't know who has changed his mind since 1987 maybe since he became marrried. I thni k it has affected his thinking. Anyway he took no action until the 1/4% measley reduction and even that reluctantly and nthen he starts telling us that the problems of the world are going to come home to 'these shores'. Great. He could do something about it and there are elections in November and so people can explain to those who are running whether they are happy about the massive reduction in their net worth and perhaps if Greenspan hears this enough from elected representatives he will get shaken enough to finally realize the damage his manic insistence on maintaining high interest rates has done in the face of what his boss has called the greatest challenge to the worlds financial system since the war. Best regards, L