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

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To: ahhaha who wrote (81848)	3/16/2001 8:48:50 PM
From: chic_hearne	Read Replies (3) of 436258

Maybe you can tell me how many economists are calling for higher rates now? Probably none. But keep in mind these crooks work for the same companies that 60 minutes reported had over 5000 reco's and only 29 sell ratings. Tell me why I should take anything seriously coming out of Wall Street? What would be the outcome if the FED raised rates now? It would crush the economy and wipe out the excesses in quick fashion. We would be ready for recovery in a few years. As opposed to keeping the cheap money flowing and having a long lasting recessioin/depression. Your humble opinion is built on an era that is intrinsically distorted. I guess I'm just lucky to have been a bear the last year then? It was based on false logic, right? So I was just confused and happened to pick the way the market was moving? I'm unaware of the big coverup that happened post '29 that has "intrinsically distorted" that era. I have my own theory. When the stock market becomes so big in market cap, it is the leading driver of the economy. Bubbles do their own thing, go up until they can't anymore. When they start to deflate, things such as the FED are just noise in the background. If the bubble is going to pop, that's what it does no matter who tries to get in the way. Same as when it's inflating. Nothing seemed to matter on the way up. We are now in the stage where a little air is being let out of the bubble. This is going to continue, whether they change rates to 0% or 10% next week, or anything in the middle. When the bubble implodes, the masses feel duped and vow to never get taken again. This is why thinking we have a rapid recovery from here or lower levels is nothing but a fools hope. This process can't repeat itself until about 3 generations later when those that were duped have passed and a new bread of suckers control the market. As far as the economy, that's just the aftermath. The driving force of our economy (the market) is going to be no longer there. And don't tell me the market is not the driving force of the economy. Have you never taken out money for a new car, etc? What about your friends? Well what happens when this easy money is gone? I don't know and am not trying to predict what happens to the economy. I'm not expecting a drastic 15% drop in GDP or 10% or more unemployment ala '29. I just believe this market is toast and all this FED talk is just noise in the background.

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