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Strategies & Market Trends : Mu Gamma Lambda
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To: Augustus Gloop who wrote (5845)9/8/2001 11:06:35 AM
From: Original Mad Dog  Read Replies (3) of 10077
 
I think it's Gloop's fault! <g>

Seriously, what Laz says is important.....rate cuts are ammo which, once expended, don't permit you to reload the gun and fire again. I remember writing something about that back in the early stages of the rate cuts, arguing that Greenie should (or would) take it slowly, because if he cut too much too soon and it didn't work, that would be a big problem.

I know Greenie bashing is big around these parts, but I think the real cause of the decline is actually the widespread unintelligent deployment of capital investment resources. Building huge fiber links between cities with no way to get them to end users is but one example. Another is investing in companies because others were, not because there was really a belief that those companies would evolve into fundamentally sound economic enterprises.

Greenie may have made the money available to do that, but he didn't decide how it should be deployed.
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