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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (53194)1/3/2001 10:33:57 AM
From: pater tenebrarum   of 436258
 
<<Sorry, better luck next bubble.>>
ROFLMAO!

but:

<<However, the window to avoid a decade+ depression is extremely narrow, and Greenspan just missed it.>>

i disagree in the sense that i do not believe such a window exists at all. once a bubble unwinds, the consequences can't be averted. in '98 it was admittedly re-inflated successfully, but at what price? the imbalances that have accumulated since then have reached such staggering extremes that imo we have passed the point of no return long ago. i give them an outside chance to re-inflate it AGAIN, a low probability bet, but one that can't be dismissed out of hand. what that might mean in terms of creating the most awe-inspiring paper pyramid of all time frankly taxes the imagination somewhat at this point.

on a related note, i hear that the bankruptcy lawyers in Delaware have seen their workload triple recently vs. last year's average.
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