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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: don tang who wrote (1529)	4/6/1999 10:36:00 AM
From: Knighty Tin	Respond to of 1722

Don, I see it as a coin flip. As I mentioned before, we have an economy that is naturally inflationary, as we are a debtor nation and a nation that runs huge trade and current accounts deficits. But, it is hard to see inflation taking hold when every real product in the world, from personal computers to coffee, is in massive oversupply. I disagree that the Fed can stop a market decline. Any time it takes reckless steps to do so, as it did last October, the resulting decline is worse than it should have been. So, when many people are in the welfare lines, they can say, "thank you, Alan Greenspan and LTCM." MB