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Technology Stocks : Dell Technologies Inc.
DELL 142.68-2.7%3:59 PM EST
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To: Oeconomicus who wrote (164271)3/3/2001 2:31:42 PM
From: Tony Viola  Read Replies (1) of 176387
 
You will look back in a year and see that AG engineered as soft a landing as humanly possible after so many people got themselves caught up in the cult of new paradigm investing, but you probably still won't accept responsibility for your own speculative excesses. He did not create the bubble and it was not his job to protect your assets by trying to keep it inflated. Doing so would only have caused greater problems. He is doing his job just fine.

Au Conraire, he did help create the bubble in a major way with the extra money he had printed during 1999 for the Y2K scare. If he had asked any number of people working on it from IBM and many other companies, he could have found out the Y2K thing was a complete hoax. It was being remedied from as far back as 1996. The odds of anything other than minor glitches were known to be small by the IT experts. Doesn't the guy have any contacts in the computer services industry he could have consulted? Then, when the bubble did get big, he proceeded to raise rates six times, the last 2 or 3 questioned by many well versed economy people.

So, he made 2 mistakes, first pumping the money out there, then raising too many times. Actually a third was waiting too long to start cutting. Not an easy job that he has, or any kind of science, but I think he'll be remembered most for erring to the extreme three times (the last an error of omission). I hope he also isn't remembered for causing the great recession of 2001+.

Seems a few Greenspan sycophants are coming out of the woodwork.
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