There's nothing about which to comment. Can't you read AG's body language?
You may be right again, ahhaha, there is little left to comment on. And AG's body language may be the thing to look at, since Greenspeak is not exactly intelligible other than to bankers. And to pundits and self-proclaimed experts, who love his obfuscation because they can claim he said just about anything they would want him to say.
I remember your comments in 98 about the Fed's pumping the economy and creating an artificial boom, and how everyone would be surprised to see the economy getting stronger and the market getting weaker. Also remember about stocks like this one getting their commeuppance. Didn't always agree with you back then, but I like to give credit where credit is due, and you've been around the track more than a few times. As I saw these events unfold, I increasingly took money off the table, was very careful with investing in dot.comania, and hedged my positions. Guess I have you as much as anyone to thank for preaching irrational fear during the most exuberant of times.
Let's see. The dollar is topping, but so are rates. Inflation is rising, but so are rates. The stock market is dropping, but so are rates. The economy is both accelerating and slowing at the same time, but so are rates.
So it all comes down to rates. In 98 it all came down to the Fed's pumping of the money supply, and here we are with this bursting bubble. So, after a year of rising rates, and with the Fed apparently on autopilot even at this late date, is a bust inevitable?
Is the Fed so uncomfortable with letting the economy take its own course that it must exacerbate natural cycles and create unnatural booms and busts? Is the IMF now making the US pay for Japan's excesses, inefficiencies, and cronie capitalism by creating for first a boom and then a bust?
When you have this much news you know that after the spin doctors and other entitled experts have cooked up yet another expansion contraction boom bust up down in out, you will get exactly nothing out of it. There isn't anything there. So therefore, there's nothing to say. Have I proved it?
I don't know if you have proved it, but I agree, there's nothing left to say... a lot of questions, but all of the data is there. Well, except that the technological revolution still appears to be in place, in spite of this disfunctional market. |
