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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Mark Fowler who wrote (36242)	1/24/1999 2:20:00 AM
From: GST	Read Replies (1) \| Respond to of 164684

Mark -- I kind of thought that is what you were thinking when you said there is lots of liquidity. That is not what I am talking about at all. Nor is it what they mean when they say that this a liquidity driven market. What they mean is that money supply has been growing far faster than the economy -- 3 to 4 percent growth in the economy versus 10 to 20 percent growth in the money supply. Alan Greenspan controls money supply, not you. Normally this would lead to inflation. Everybody says it has not -- except for the stock market. AMZN is the prime example of stock price inflation. Stock price inflation does not cause the money supply to increase -- it is the result of increased money supply. If money supply is brought down to growth rates closer to economic growth -- watch out. Last October the stock market tanked because global money supply tanked. Banks stopped lending. AG said in the summer that if banks stopped lending then he would flood the world with money -- he did and the market turned around. Now the question is will he do it again. More and more people are saying no.