Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Mike Torrence who wrote (129730)	12/15/2000 1:23:17 PM
From: tejek	of 1581689

Greenspan targeted the stock market (especially NAZ) as a result of his phantom inflation fears and has yanked the economy into a possible recession. The Naz may have been a secondary target but the main target was inflation resulting from wage pressures and behind that, oil. As it turned out, the oil price problem came to the forefront almost at the same time as wage pressure began to grow. It looks like now that the rise in wages crested in early/mid fall and oil last week. In light of that, I think Greenspan is right on target with his neutral bias this month. As for the Naz, I can't imagine anyone questioning that it was bubble looking for a needle. My only regret was not taking all my profits in April He doesn't trust productivity growth and is targeting 2-3% economic growth. Why should anyone trust it completely? Its a phenomenom of the '90's and no one can be sure if it will last and/or continue to grow at the pace it has. The latest report indicated that the rate was slowing but no one knows if that's a permanent trend or not. I think its very easy to criticize when one is in the backseat and won't be faulted for a crash should one happen. ;~)) ted .

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