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Strategies & Market Trends : ahhaha's ahs

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To: ahhaha who wrote (889)	1/27/2001 9:13:22 PM
From: GraceZ	Read Replies (1) of 24758

Saturday January 27 8:25 AM ET Column: Greenspan Discovers Investors Rule By Pierre Belec NEW YORK (Reuters) - It's high noon, and the world's toughest inflation-fighter is facing a villain he's never come up against. Is he going to stand his ground, or cut and run? Just the other day Alan Greenspan (news - web sites) rotated his sheriff's badge 180 degrees and talked about tax cuts. Now with the stock market fading deeper into the twilight zone and the economy sliding fast, the Fed chairman has his back to the wall, namely Wall Street, and he has to bring down interest rates. Why? The people who put their money in the market have become the economy. Greenspan's rapid-fire increases in interest rates from the summer of 1999 to the spring of 2000, drove a stake through the bull market's heart. And, screaming headlines of ``Market Meltdown'' and talk of recession have sapped consumer confidence. The Fed head discovered something else. With half of U.S. households holding a stake in stocks, the market created so much wealth over the years that investors are NOW the economy. dailynews.yahoo.com

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