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Technology Stocks : Intel Corporation (INTC)
INTC 40.07-1.2%9:32 AM EST
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To: Robert Douglas who wrote (124281)1/5/2001 12:55:49 PM
From: Hightechhooper  Read Replies (1) of 186894
 
Robert,

Well two minds can disagree respectfully!!! The fed blew it big time IMO with all the liquidity they added to the system to avert a non-existent Y2K problem. All that money had to go somewhere, afterall, financial markets are fundamentally driven by supply and demand of money not the discounted value of future cashflows. This major, major policy flaw created the bubble, not the greed of individual investors. Many people don't buy much stock at all, they hold it in 401K's etc. and when they saw the value of those assets go up they started borrowing and spending more. Then the fed pulled the rug right out from under them. The psychological impact of a high or low stock market is much more important to the economy than the tangible wealth itself. Now the psychology is very negative and people stop spending.

A less panicked Y2K policy would have resulted in stability from Q4 of 99 to now and the roller coaster never would have happened and the economy would still be growing at moderate rates now. Instead, the roller coaster the fed put everyone through resulted in a manic depressant economy that we are now in.

I respect your opinion, but I have a different one based on my own views of the world and experiences.

good luck,
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