Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (55582)	1/8/2001 10:09:46 PM
From: yard_man	Read Replies (2) of 436258

Corrigan worth quoting: >>What we need is a resolve to weather a short, sharp – possibly severe – downturn. To allow bankruptcy and retrenchment. To encourage thrift – helped by that vital tax cut – and to discourage Tomorrow-Eating consumption. We need to allow prices and wages to fall to allow the market to clear and for as much capital as possible to be re-activated – even if only on an operating cost basis. Then – and only then – will it be really safe to get back into the market for that fabulous golden long haul we hear so much about. Until then, rallies are to be square into and short out of. Don't lose sight of the fact amid the barrage of bullish propaganda which will be thrown at you in the days ahead. Greenspan can create many ephemeral things with his pronouncements and actions, but he cannot improve crop yields, increase the richness of an ore deposit or conjure a single joule of energy out of heaven or earth. He cannot produce real prosperity, but only its illusion. He can, however, destroy it – usually via that very same illusion. <<

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