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To: Lee who wrote (91840)	1/27/1999 3:41:00 PM
From: JRI	Read Replies (3) \| Respond to of 176387

For the life of me...I dont know why they interview this guy Art Cashin...he never says anything that's not hedged...and some things says things that are just wrong....he just said that the "pros on the Street" are expecting China to do a "stealth" (what?) devaluation....reimbursing exporters in lieu of a devaluation... indicating that this is a concern, and viewed like a devaluation (for these guys)... On what basis can he (or anyone) consider government export promotion as a devaluation of a currency? Obviously, this is being done (as one step) in lieu of a devaluation...but to claim that it is a pro facto, or ersatz devaluation is totally wrong, no? Please correct me if I'm wrong.... In my view, Insana does us a disservice by not correcting this guy..that is plain missinformation.... The more I hear from the pros, the less I think they know...