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To: Sun Tzu who wrote (28970)	3/8/1999 5:39:00 PM
From: Jeffrey D	Respond to of 70976

Sun, thanks for link. Well, let's go to the Fedhorse's mouth. What did Mr. Greenspan have to say today....see below. No mention of increasing or decreasing corporate earnings but still optimistic. Jeff << U.S. Economy Mon, 08 Mar 1999, 5:01pm EST U.S. Economy: Greenspan Lauds Economy's 'Spectacular' Results Washington, March 8 (Bloomberg) -- The U.S. economy ''has turned in a spectacular performance in recent years,'' with inflation staying low even as the nation's unemployment rate fell, Federal Reserve Board Chairman Alan Greenspan said. Real gross domestic product has increased around 4 percent in each of the last three years, about 8 million jobs have been created since 1995, and the unemployment rate has fallen below 4.5 percent to its lowest readings in three decades, he said in a speech to the Mortgage Bankers Association. Even so, ''inflation has been well-behaved,'' Greenspan said. There's also little reason to expect a big acceleration in consumer prices anytime soon, analysts said. That suggests the Fed doesn't have the smoking gun it needs to justify increasing the overnight bank loan rate, now at 4.75 percent, they said. Commodity prices remain near a 25-year low, gold is near a six-month low, and on Friday the Labor Department reported workers' hourly wages rose just 1 cent in February and 3.6 percent over the past year, the slowest rate of increase in 19 months. Tomorrow, the Labor Department is expected to report that worker productivity during the fourth quarter of 1998 increased more than first thought, making it possible for companies to produce more at less cost. ''The evidence of inflation is non-existent,'' said Brian Wesbury, chief economist at Griffin, Kubik, Stephens & Thompson Inc. in Chicago. ''Wall Street's fears of the Fed are overblown,'' he said. >>

To: Sun Tzu who wrote (28970)	3/8/1999 5:44:00 PM
From: Jeffrey D	Respond to of 70976

OT*** Does DELL stock split about every three months or so or does it just seem that way? Geez! Jeff

To: Sun Tzu who wrote (28970)	3/8/1999 5:55:00 PM
From: Jeffrey D	Read Replies (1) \| Respond to of 70976

Sun, from Briefing.com last Friday on expected earnings growth. Jeff << Bottom Line: Valuations are at all time highs while profit growth has been declining. True believers will say that profit growth is just around the corner, and that low inflation and interest rates mean that stocks can go higher. Briefing.com does not doubt that they can indeed go higher, but that will be due to the speculative nature of the market rather than the fundamentals. The bubble may very well keep expanding until something drastic occurs to change long-term expectations about profit growth or interest rates. When it does change, though, the risks will be very high.>>