Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Davy Crockett who wrote (2270)	4/24/2001 11:19:47 PM
From: Davy Crockett	Read Replies (1) of 5144

Scary stuff.... from the John Pitera thread Message 15712817 Alan Greenspan had it dead right when he first warned of "irrational exuberance" at Dow 6437 more than four years ago. But like many economists, he was early -- a trait that I can certainly relate to. But the very asset bubble he feared expanded and popped before our very eyes. And this has raised the risks of the nightmare scenario that haunts every central banker -- the unwinding of bubble-induced excesses in the real economy. History is not exactly replete with examples of post-bubble shakeouts. America in the 1930s and Japan in the 1990s painfully come to mind. One of the most salient lessons from both of those earlier episodes is that the aftershocks are long and painful -- and, unfortunately, not tempered by lower interest rates. and Meanwhile, the Fed has cut rates this year in its most aggressive manner since the second half of 1982 when the economy was in the depths of the worst recession since the Great Depression again courtesy of the John Pitera thread Message 15712878

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