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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: OpusX who wrote (7816)	2/6/2001 2:46:38 PM
From: Bucky Katt	Read Replies (2) of 13094

More on stupid bank/FED tricks, and this is shocking> To wit, Greenspan said that ``in retrospect, the growth of debt and leverage was out of line with subsequent economic expansion and asset price appreciation'' when he testified before Congress in February 1992. Bank credit ``expanded at an average annual rate of nearly 9 percent, well in excess of the growth of nominal income,'' Greenspan said. Bank credit growth is currently increasing at a 9.3 percent annual rate, down from a two-decade high of 12.4 percent as recently as September. Nominal income, or nominal gross domestic product, rose 5.9 percent in the year ended with the fourth quarter of 2000. In 1992, Greenspan used aggressive debt creation in the 1980s to explain the anemic recovery from the 1990-1991 recession. Now Greenspan is using aggressive easing -- 100 basis points in the last month -- to stimulate creation of even more debt. Sounds like all we need to do is borrow, and everything will be just ducky bloomberg.com

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