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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.18+0.2%Dec 26 3:59 PM EST

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To: bambs who wrote (43188)11/8/2000 9:20:19 PM
From: chic_hearne  Read Replies (1) of 77400
 
Bambs,

Ah yes, great article linked out of yesterday's rap.

The worldwide credit bubble is so bad that things would probably be better in the end if we just started over and every single government, person, and business filed chapter 11. From the horses mouth:

A friend of ours now living in London told us some time ago of an astounding conversation he had in the early 1970s. At a lunch with Mr. Greenspan (when he ran his own economic advisory service), they discussed gold and the Kondratieff Cycles. Mr. Greenspan stated that he would love to be head of the Fed when the Kondratieff Cycle was due to end in the late 1980s. He was quite sure he could overcome the deflationary impact of the cycle by injecting sufficient credit into the system to offset inflation. He ended the conversation by saying that should he fail to achieve his objective, there was a chance that when the cycle did end, the resulting Depression would be by far the biggest the world has ever known. [from feb 2000 Richebacher Letter]

chic
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