Tuesday, April 20, 2004

Get out of Dodge: To be clear: I would raise interest rates to reflect the growing realization by the private sector that some inflation is going to be necessary to allow some expansion. I think that a mild one- or two-time raise this year, up to a point, point-and-a-half would be reasonable. You expect some market contraction in the realm of 10-15% perhaps, but unless a free-fall is imminent, no reason to back off I'd say.

That said, if you do go to White Castle, have you dined with them before?

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