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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Geoff who wrote (2479)	10/16/1998 7:52:00 AM
From: billy d	Read Replies (2) \| Respond to of 6439

Geoff, Thanks for the response. I agree with all that you say and would like to add one more thing. With all of the good news hitting at one time, the one piece I didn't see as so rosey was the rate cut two weeks after the prior cut. IMO this is a panic move by the Fed. It was totally uncharacteristic for Greenspann and shows all he really seems to care about is the stock market. I think this will come back to haunt them as payrolls continue to be tight and anymore rises on this front will squeeze profits even more resulting in more layoffs. He seemed so worried about a financial bubble, well he may be creating one right now as a big rise in stock prices will just cause more speculation and things are NOT the same as they were a year or two ago when profits almost justified these high valuations. Things are much different now. GO BIG MO!