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Technology Stocks : The New QLogic (ANCR)
QLGC 16.070.0%Aug 24 5:00 PM EST
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To: J Fieb who wrote (27091)5/23/2000 5:00:00 PM
From: Joe Wagner  Read Replies (1) of 29386
 
Everyone likes to blame Greenspan for the market going down. But imagine if he had done what they wanted, and not raised interest rates for the last six months. We would be driving into a hairpin turn at 90 miles an hour. Greenspan doesn't directly control rising gas prices, or world demand for resources, or labor shortages. He knows that controlling the money supply is the way to slow down demand indirectly so supply can catch up with demand, so we don't crash the economy into a recession or depression. Kind of like slowing down a car going into a turn. The people that hate Greenspan want to keep it floored through the turn (cause you can never go too fast through a turn on the infohighway) and not watch the road ahead. I think that we are reaching a peak in interest rates. If the indicators show inflation falling and demand slowing, I am sure the interest rates will start to come down again. But at this point we don't know how sharp of a turn it is, or how much more braking is necessary to keep our wheels on the road. I hope the economic indicators start turning in our favor, and show us that the turn is opening up and we can start accelerating again, not getting sharper where we have to keep slowing. The only scary thing is what if it is a hair pin turn and like in the movie "Speed", if you go under 50 MPH you blow up the bus. The outlook would become rather bleak, but I don't think that is the case here.

Joe
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