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

To: baggo who wrote (34963)	10/31/1998 2:05:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Brice, I definitely see another rate cut and I think the market has discounted the next 3 cuts. Odd that you should mention a guy who works for my old firm. I don't remember him, so he is either new or he comes from the Van Kampen side of the family. <G> What he is missing is that the Fed does not operate in a vacuum. It cannot cut rates without creating more of a flight from dollar based debt securities and without spurring even sillier speculative scams in the economy. So, my guess is that AG may plan to do what Shumaker said, but that market reality will make him change his plans. Inflation doesn't usually show its ugly head until 6 months after a rate cut, so I think we have plenty of that to worry about. And with more financial institutions hitting the skids, AG cannot print his way out of this mess. If he could, he would simply give each of us a billion dollars, as I've often mentioned. (Actually, he is welcome to use me as a beta test site for that theory. <G>) I think the market is way overpriced, but the Xmas lies are just starting. I like to give them a little line before reeling them in with puts. MB