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Pastimes : All Clowns Must Be Destroyed

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To: UnBelievable who wrote (38955)6/10/2000 8:19:00 PM
From: patron_anejo_por_favor  Read Replies (3) of 42523
 
Unbelievable-really fine article. Russell states the bear case eloquently and convincingly. FWIW, I think he's right. We will get a long grinding bear that started in March '00 (or last year, if you look at the Dow), and we are still in the very, very early stages. In the 1929 analogy, we are probably in December, 1929 or January 1930. Frankly, I think anything the Fed does now is immaterial, as they are in a box and tightening will 1) hold up the dollar but 2)tank the market and cause a (more rapid) onset of recession. Conversely, remaining too "loose" will cause the dollar to tank, gold to skyrocket and inflation to go nuts. Inevitably they will tighten, the only question is what will happen first. Thanks again, great article.
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