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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (14775)8/30/2000 11:16:40 AM
From: Perspective  Read Replies (1) of 436258
 
I'd point out that the "buying opportunity" during the LTCM/Russia crisis would have BEEN the top had it not been for the massive printing by the global central banks.

And printing can't really fix anything - just postpone it. The idea is to stabilize the system temporarily, then fix what caused the problem, then remove the excess liquidity. Greenspan has done neither. Derivatives and risk levels have just continued soaring, and the money injected was just followed by ever larger chunks of liquidity.

BC
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