I finally found an article that gives a good summary of what's going on currently in the markets. It doesn't have everything, but it is probably a better synopsis than I have written in the past week. If you are into stock investing, the description of Safeway's stock and prospects is more the typical story you expect in a bear market - a truly cheap stock that discounts all the risks ahead of it.... Also note the huge growth expectations for tech stocks right now. While the recent run has gotten ahead of even these glowing prospects, I dare say the current consensus seems FAR too rosy given what tech CEOs and CFOs are actually saying right now....

Finally, I read an interesting piece that made a convincing case that deflation is over-rated as a danger. Quite the reverse, inflation is on the rise. This could make sense since consumers are continuing to spend vigorously. Regardless, this is a story bearing keeping an eye on since the current consensus is that *neither* deflation or inflation are risks.

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Monday, November 25, 2002

Dow Rallies Seventh Straight Week as Fear Dissipates

By MICHAEL SANTOLI

(Barron's)