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Non-Tech : Alan Greenspan- the most poweful man in the world?
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To: Feraldo who wrote (11)3/31/1997 9:29:00 PM
From: Stingray   of 19
 
> The recent drop in the Nasdaq and the Dow is all of the evidence that we need that we don't have to worry about a market drop.

Apparently we should have worried. Greenspan did not raise interest rates without reason, and the reasons were revealed in Friday's economic data.

Let's not blame Alan Greenspan if the market drops, it was way overpriced, it still is and even if he had kept quiet and left short term interest rates alone the 20% increases in the S+P 500 when the GNP was growing by 6% were unsustainable.
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