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Technology Stocks : Y2K damage reports
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To: Gersh Avery who wrote (270)2/6/2000 5:50:00 PM
From: Phil(bullrider)  Read Replies (1) of 286
 
Gersh,

I haven't followed your posts closely, but were you not one of the Y2K fanatics?

One of the "The sky is falling" group?

Now you state:

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 is my understanding that the feds injected cash to the banks in case of a Y2K run because of fanatics insisting there would be some sort of disaster.

It seems that fanatics can use any event to make a case for their cause.

Which trees will you hug tomorrow, or which whales or snails will you try to save?

Just wondering.

Have fun,
Phil
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