What Greenspan has created he has to moderate....
<<<<In 1998, at the time of the Long Term Capital Management (LTCM) collapse, Greenspan & the Fed lowered rates specifically to save the markets. At what
point do they take the view that the markets need to be saved again?>>>>
I think the most striking part of this downturn is how little the market is actually responding to the election indecision... it "appears" to be about the indecisiveness, but it is the grasdual bursting of the internet bubble and, because of the interest rate pressures, the unwinding of all the balloonish tenacles in all of the rest of the tech companies causing this pain. Obviously we see this as an over reaction, but as El says it will take a fair amount of time for the market to gain stability again... where stability means companies are valued closer to what they actually are (perfomrance, influence, criticality, etc.). Meanwhile we bathe (wallow) in the PIG PEN!
DJ |
