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To: Glenn D. Rudolph who wrote (23123)10/26/1998 9:22:00 PM
From: JBL  Respond to of 164684
 
Commodities are reaching new lows, spreads keep widening between treasuries and high yield bonds,the Nikkei is going up on restrictions on shorting and hopes provided by public money for banks, while this week end, growth in Japan for 1999 was revised from + 0.3 % to - 1.8 %.

More and more, rallies are happening on hopes of improving fundamentals, while fundamentals themselves keep deteriorating.

The average Wall Street analyst seems to think that deflationary forces will keep provididing the US with all of the benefits and none of the problems, and rejoice that an ever increasing number of billions are being spent to avoid the collapse of neighboring economies.