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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Scott Garee who wrote (5090)	2/5/1999 12:19:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 29970

The leg bone is connected to the arm bone...Perpend: Tell me, how smart is the FED? They are doing a coupon pass with fed funds under their imbecile target. They're trying to keep the bond and stock markets pumped up, because they know the cliff is near. This has the effect of revving the economy, actually the economy's prices, but the prop is limited. Rational expectations indicate this action in conjunction with failed Japan's endless collection of bad moves will have more upward pressure on short rates, T-Bill that is, and thus downward pressure on the stock market. Fed funds are real economy, but T-Bills are the real market. FED can't manipulate that just like they can't manipulate the long bond. Banks can factor overnight funds into Bills but that is the old refutation mechanism that this era's experts claim no longer exists. It means that when you generate fiat money and the market sees it raises prices more than it raises output, rates rise with rising money availability. So add a little more gasoline to the fire FED, at this rate gold will start moving. That will get FED to slam on the brakes. Amplitudinis Fouriered or square well. You gotta love that protection, if you're short that is.