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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: S. maltophilia who wrote (1330)12/8/2000 11:23:10 AM
From: tradermike_1999  Read Replies (3) of 74559
 
We’ve had some funny moments this week. One of them
was Tuesday when Greenspan said that there are signs that
economic growth is slowing and then looked right into the
cameras and said rather excitedly “this is not 1998!” He
looked like a dear caught in the headlights. Of course the
stock market bubble and this economic downturn has as it’s
source 1998 and the Asian and Long Term Capital Hedge
fund blow up that happened that year. Greenspan bailed
them out. Got hailed as a hero. But we are now paying the
price. But remember “this is not 1998!”. But the funniest
moment of the week award goes to CNBC, Jim Cramer,
and the talking head Mark Haines. Before the markets
opened today Cramer said that his head trader told him that
he thought this week’s Jolly Greenspan rally had been a
headfake and the Nasdaq was going to dump. Haines
frowned and gave Cramer a dirty look as if it to say “you
are not supposed to say such things, be bullish damnit!”
Cramer don’t you remember? Only bubbleheads are
allowed on CNBC. Shame on you.

When all is said and done Greenspan’s remark that “This is Not 1998” may be what we remember
from Tuesday. The great hope of the bulls is that he is going to cut interest rates very soon and
bail out their portfolios just like he did in 1998. Wait, but didn’t he say “This is Not 1998?”
Hmm...what did he mean? Greenspan speaks with so much cryptology. Rest in Peace employed
workers. Rest in Peace stock market. Rest in Peace economic growth. The idol of monetarism
demands your sacrafices.
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