Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: yard_man who wrote (119244)	9/1/2001 9:02:50 PM
From: Haim R. Branisteanu	Read Replies (1) of 436258

tippet the raise in oil prices which were transferred into higher energy prices did more damage than AG. Their effect has a delay as any other financial event. I wrote about that on SI around April / May 2000 I think. Compare your interest expenses to energy expenses and you will see what I mean. Then take the multiplier effect into cost of products and transportation. Keep in mind that price per BTU tripled from winter or 1998/9 to Summer 2000. (Gas prices popped from around $2.5 to over $7 and oil from around $11 to $32). Interest rates had relative little impact but regardless were raised to late. Liquidity was the actual problem and the FED failed to recognize that the Y2K issue was a plot by the High Tech community to sell more services and hardware. There is much blame on AG and his fellow FED members for failing to understand the effects of growing money velocity, "just in time inventory", the bubble including his/their failure to recognize or his/their unwillingness to call the bubble a bubble and his/their submission to WS thieves and swindlers and succumb to political pressure. BWDIK Haim

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