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Technology Stocks : America On-Line (AOL)

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To: ChinuSFO who wrote (30181)	8/31/1999 10:42:00 AM
From: Rascal	Read Replies (1) of 41369

Greenspan is in charge of the steam vent. I think he tries to temper the others "actors" in the marketplace. Analysts, hedge funds (the real invisible hand) big banks and institutions use him as the excuse to do what they wanted to do anyway. Events of the past 20 years put him in charge of the world economy not just the U.S. economy. I think that he is worried about the US market growing too fast compared to the rest of the world. (Japan, Latin America, etc.) And about the new companies traumatically wounding the companies that must retool themselves. I was talking to a young person from Belgium (20 something) the other day and he kept saying the EU this and the EU that. He never even mentioned Belgium! It had almost escaped me that the European Union has really happened and it was so smooth! And if you talk about telecommunications or AOL, MSFT, IBM, etc. you are talking about world-wide business models. Sometimes I think we are so proactive, confident and aggresive that we forget about the incredible changes and re-organizations of the world wide social structures that accompany this U.S.-economic-pac-man. Geograpic borders are greatly diminished in importance. Right now a country is either part of the change or part of the problem. And 01/01/2000 is going to be the litmis test for every country and every business. This is all for the good, in general, because it will push everyone to use a common measurement system for measuring success. When one thinks of the major changes Greenspan has had to factor into his models they are breath-taking. I'm just glad Arthur Burns is not in charge! One of my favorite sayings is "You are what you measure." Greenspan and the US Economy is implementing a new world-wide measurement system which is really a revolution without the war. IMHO, we are very fortunate!

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