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Pastimes : Home on the range where the buffalo roam

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To: pbull who wrote (11116)3/3/2001 5:00:41 PM
From: LLCF  Read Replies (1) of 13572
 
<I say, that's bull, because telco debt is ANOTHER bubble that almost certainly will burst, >

Yep, already is... downgrades weekly including large european telco's, not to mention the LU debacle. Telco's can't borrow anymore at reasonable rates... didn't T just do an offering and payed 300bps over treasuries? I think we are already entering the period where it doesn't matter what GreenJeans does with rates, no ones going to lend any money to most companies anyway.

I'm starting to think, as a matter of fact, that Greenjeans raising rates may have coincidentally coincided with the bubble imploding of it's own weight, can you imagine a worse scenario? He really should have never flooded the system in '98 [which then continued through Y2K], we could have had a much smaller recession then to pay for his past mistakes. Now it might be a whopper, larger than it would have been then in any case... plus it would have cut off a huge amount of malinvestment that took place when the WS IPO machines fleeced mainstreet.

DAK
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