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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (47043)12/13/2000 11:29:32 AM
From: patron_anejo_por_favor   of 436258
 
<<What most people don't understand is that the only time the bubble's downturn could have been prevented was by slowing things during the boom.>>

Agreed. The ideal time would have been as soon as possible, after the LTCM debacle. It seemed there was a reasonable chance for a panic then, so you could argue that the bailout made sense. But the continued reliquefication did not, indeed, the Fed should have reversed itself in the first quarter of '99 at the latest. Now there is virtually zero chance of this ending without recession...a BAD recession at that.
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