Greg Valliere
Greg Valliere
bond comfort gives greenspan inflation level market vigilant
It gives the bond market a comfort level that you have a replacement just as vigilant on inflation as Greenspan was.
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I think sometimes after we have this type of party, there is a hangover -- and this comes in '05, ... The new Congress in '05 will make efforts to restrain growth. They may not rescind the tax cuts, but there will be spending restraint. But between now and then, it's just a party.
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I think that an awful lot of Democrats feel that it's time to throw in the towel, so it's a guess that he will concede today,
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I think it (Friday's report) is incredibly important from a market point of view. But I'm not sure that swing voters in rural Ohio are going to be into the non-farm payroll number.
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I think it's bad karma when you start talking down your own currency; it smacks of desperation. If this turns into a rout, that will prove that classic adage -- be careful what you wish for.
appearance climate
There is a new climate in Washington. Even the appearance of impropriety can do in a career.
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He needs to restore investor confidence, ... It's extremely unlikely he would say anything that would be viewed negatively by the markets. He's going to make it clear that we are not looking at the abyss and we are not looking at a major recession.
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I think political strategies now are in agreement that the public doesn't want a big huge change on anything, whether its health care or the contract with the gold standard.
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I think Greenspan realizes that if he doesn't move tomorrow, he may have to do 50 basis points at the end of January, which could look panicky.
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I think Greenspan, last Thursday, really sent a signal that he wants 50 basis points, ... By saying that the GDP (gross domestic product) growth is close to zero, he certainly encouraged the belief that we get half a point.
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I think Friday's number will be impossible to analyze. But everyone said all the numbers this week would be ignored, and the ISM number caused a big sell-off in the bond market.
impossible number
I think Friday's number will be impossible to analyze,
months
I think it will be months and months before you see this clarified.
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I think Microsoft would like to wait until after the election, and maybe if George W. Bush wins, they could get treated better by a Bush Justice Department. I think they're delusional if they think that's going to get them out of their problem, but I wouldn't be surprised if that's in the backs of their minds.