thinking long term

Chuck0 chuck at
Fri Mar 17 10:41:41 PST 2000

Doug Henwood wrote:
> Today's Wall Street Journal reports on why Old Economy stocks have
> been booming over the last several days. The star of the piece is a
> mutual fund manager, whose thinking is reported thus: "For his part,
> Mr. Ognar says he has been trying to anticipate what kinds of stocks
> would start performing well six months from now, when he anticipates
> that the Federal Reserve will have ceased to ratchet interest rates
> upward."
> That's the New Economy for you - no recession, no bear market, just a
> half year of bumpiness before the all clear is sounded. God bless

I'm convinced more than ever that the stock market is a ginat Ponzi scheme. After years of fretting about inflation, the first real signs of inflation cloud the horizon and the market goes up 500 points?

OK, I guess they have decided that working people get screwed by inflation while the rich guys are immune because they have so much money.

Capitalism never sleeps.


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