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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (1231)	12/10/1998 5:43:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 99985

Hi Donald, Maybe old news to everyone but just in case I thought I would post it. Comments by Ex-Fed Governor Lawrence Lindsey: Earnings growth is a necessary component to support current stock valuations. Former Federal Reserve Board Governor Lawrence Lindsey painted a bleak picture of what might happen if the wealth that many U.S. consumers have attained in the stock market were to collapse. In a speech today, Lindsey said, "The one thing we cannot afford to have is a collapse in our wealth. A collapse in our wealth suggests a probable end to the spending binge, and an end to the consumer spending binge suggests an end to the expansion. An end to the expansion suggests real trouble for the world." However, Lindsey feels the current Fed policy makers are mindful of the importance of preserving Americans' wealth. Monty