[PEN-L:446] Re: Who will tell Acompora?

[Doug Henwood <dhenwood@xxxxxxxxx>]

Tom Walker wrote:

>"That $15 billion to $20 billion a month in retirement money has got to go
>somewhere." - Ralph Acompora, Newsweek, August 17, 1998
>
>I'm no match for the tag-team of Henwood and Sawicky. But I'm left with a
>nagging question: if the NIPA figures totally discredit the hypothesis of a
>"baby boom retirement savings bulge" how does much-hyped Prudential
>technical analyst Acompora get away with saying the above? I always thought
>ideology was supposed to contain at least a grain of truth.

It can go into the bank, or into T-bills. There's no reason on earth why it
has to go into stocks, except that a mass psychosis took over around 1992,
that seems to be lifting right now.

Doug