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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 28 4:00 PM EST

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To: Lee Lichterman III who wrote (22874)	8/12/1999 4:19:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Lee, there is absolutely no doubt in my mind that the Fed is subject to heavy political pressure from the administration. Clinton surely knows that he can thank the asset bubble for his popularity. and i wouldn't be at all surprised if he thought that the pricking of the bubble is best left to the next administration. we all know that it cannot go on forever and it seems there has a sorrily mistaken belief set in among officials that it is of no consequence if the bubble is allowed to inflate further. needless to say, there are examples throughout history that prove that asset bubbles ultimately induce huge setbacks for future economic development once they pop. but tell that to a politician... regards, hb

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