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To: MythMan who wrote (9876)	10/30/1998 9:15:00 AM
From: Cynic 2005	Respond to of 86076

<<and your point is? >> You can't have your cake and eat it too. Oddly enough, Greeny managed that for the US. I am not sure know how long it will last. Sure one month doesn't make a trend but ECI, PPI point to inflation. NOW GDP is up 3.3%, around all this is an unexpected rate cut. They need $ to rebound to unwind a lot of long$/short yen position. This news doesn't help. If you thought Russian default is bad, wait until see the devastation caused by this unwinding of the $/yen positions. At this time in the mess Greeny can not give everybody what they want: 1) higher stock prices for the stock bulls; 2) lower interest rates for the bond bulls; 3) stronger $ and lower gold price for the carry traders Jim Grant is right. The Fed chairman is now in to bubble management. Unless he can blatantly manipulate every single market, it is inconceivable for me to think how he can achieve all the goals at once. I know what you will say. The stock market shoot-up today, probably for one more month. I don't care. As with Magner, if and when BK hits, he will definitely be right. Or, he will stay for ever wrong bear. To get the title 'forever wrong' you don't have to be an eternal bear. You can achieve this by mood swings as well. -g-