Y2K damage reports Message Board

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Technology Stocks : Y2K damage reports

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To: Gersh Avery who wrote ()	2/6/2000 12:29:00 PM
From: Gersh Avery	Read Replies (4) of 286

I'd like to thank every one that posted here over the new year. As we have progressed through the month of January, it has become obvious to me that the major damage that has taken place was the efforts to prevent damage. The primary damage that has taken place was the fed injecting liquidity into the system. Massive amounts were injected to prevent shortages in liquidity for late December. Now that liquidity is being pulled out. In the meanwhile, people have taken on huge amounts of debt for the purpose of buying stocks. Again, this is the result of the fed having added liquidity into the system. The markets went up .. people bought more stocks. Now the market will pull back. People will lose their houses, cars, bank accounts etc. It's sad .. every action that took place to protect this great stock market bull run will only make the end more painful. again .. thanks to each and every one of you. Gersh

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