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Technology Stocks : WDC/Sandisk Corporation
WDC 157.75+0.4%Nov 14 9:30 AM EST
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To: limtex who wrote (17633)12/26/2000 9:58:05 PM
From: Craig Freeman  Read Replies (2) of 60323
 
Limtex, my take on your take is that you think that the Fed thinks that the entire world has been "irrationally exhuberent" ... and that for the Fed to make things right, that it has to crush markets worldwide.

Did it occur to you that there is little in economic theory to support such a notion? There was a sound reason to crash the 'Nets. But, as a result, the U.S. economy is a trillion+ dollars weaker than it was just months ago. We have serious problems but the last thing the rest of the world wants is to see the U.S. spiral downward and inward.

Foreign governments aren't so stupid as to think that a failing U.S. marketplace is a good thing. They will be forced to pump our economy up in order to maintain a stable export market. "Balance of trade" issues may not get much press but they mean more that most know.

It's all in the equilibrium. Stand up too fast and you may come crashing down. Get up slowly and you will stand tall and stable.

What we can't sustain on our own can be sustained with enough help from abroad. IMHO, when foreign countries spend their money and effort tweaking their markets to deal with U.S. import/export issues, the Fed will have obtained what it really wants -- those magical words -- "economic stability".

Unfortunately, the Fed has more patience and a far bigger budget than anyone who posts here. As this all unfolds, for us "little people", it is probably going to be extremely confusing, and more likely than not, economically painful.

Craig
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