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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (44238)12/5/2000 11:13:42 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
absolutely...to me it is also MUCH more important how the credit markets react to an AG pep talk than what the stock market does. we know that that rallies on the drop of a hat, what with the seemingly endless supply of dippers. but seeing credit spreads hitting new wides on the same day we get yet another 'bottom' put in is very suspicious.
that said, one day is not enough to pass judgment.
note, it is also remarkable that the credit markets were unimpressed by the huge clownbuck infusions over the past week or so.
one would expect rising demand for short term funds in the holiday season, but last week's repo gusher looked almost as if AG tried to douse the flames from here to Turkey to Argentina simultaneously.
needless to say, i agree that with credit markets and the IPO market shut down, an important source of tech capex spending has disappeared.

another, more general observation: it seems to me that no really NEW killer app. tech invention has seen the light of day in recent years. yes, we have built on the wonders of computing, and milked that for all it was worth. but i see nothing as profound as the PC itself, or the car, or the airplane...nothing quite as revolutionary. maybe i just don't get out enough....
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