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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (34242)	10/20/1998 3:18:00 PM
From: Knighty Tin	Respond to of 132070

MMV, I don't believe it for a minute. Most bond buyers are not stock buyers and vice versa. When people run to safety, it is usually to shorter term securities. Here is my take. Bond traders are not stupid. They know that when the Fed creates too much credit, it is bad for the buck and, since a lot of the holders of bonds are foreign, they dump immediately on signs of a weaker dollar. What we are seeing is what I would consider the expected reaction to AG's printing of money. Those assets that depend upon a relative scarcity of greenbacks, such as the dollar and bonds are getting wackerooed. As we all know, I thought everyone would figure this out much earlier and paid through the nose for being ahead of the pack. Oh, well, unless you are the lead dog, your view never changes. <G> MB