Uncle Ben is a smart man(by Calvin J. Bear)

Uncle Ben is a smart man. And anyone who has been dissing him is justplain wrong, and moreover Ben made it very clear what is going tohappen.

I just lost a huge piece I tried to post about what Ben actually said.

Butin short summary - I think there are too many posters (and not tomention financial journalists) talking through their pockets, theirvariegated glasses, and even, dare I say, there are vast hegde fundsbetting all over the place on the strange idea that they can influencewhat the Fed will do next.

Hahahahahaha.

The Fed made ittotally clear, and frankly - I think most of the market is wa-a-a-a-yon the wrong side of what is about to happen.

I haven't been wrong in thirty years and I'm not wrong now.

Thisthing may take several months - maybe as much as six months to turninto the disaster for bond players that Ben could no have been morecrystal clear telling everyone.

Read what he actually said. Stopinterpreting what he said and read what he actually said. He said - asI have been saying for months - he is going to eventually put interestrates up and a hell of a lot higher than you think, not down. Betagainst it if you like. But he said it plain and clear - and he evensaid why and I have long held the same view about the global reasons.Frankly, I think he's dead right.

Calvin J. Bear