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To: Ken98 who wrote (57402)	8/19/1999 5:06:00 PM
From: pater tenebrarum	Read Replies (1) of 86076

i agree it's a bit disconcerting....the question is, what does the Fed really have in mind w/regards to the bubble. despite protestations to the contrary i believe AG knows very well that we are in one. so do they think it can go on indefinitely? i can understand that nobody wants to be the one to pop it, but doesn't it get more dangerous by growing ever bigger? officially they are not concerned with the market, so why then did AG mention the word "bubble" about ten times in a recent speech? more questions than answers here, but my impression was that he intimated that the Fed is preparing for the moment when the bubble bursts. he devoted quite a bit of time to arguing that an environment of general price stability would be the most conducive for a rescue operation and that a bursting of the bubble need not unduly harm the economy if dealt with properly (he's wrong imo). which makes it all the more puzzling that they keep on adding liquidity...

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