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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: BGR who wrote (125359)9/24/2001 11:13:50 PM
From: Wyätt Gwyön  Read Replies (1) of 436258
 
well, the bubble had to end one way or another. inflation fears were understandable in the context of runaway asset prices. if the economy had been on firmer ground, it could certainly have withstood a few months of high rates. people blame greenspan for starting the bubble, then letting it go on too long, then killing the bubble...heck, he's just one ugly old guy, he ain't god. of course he doesn't know what all the effects are going to be. he's just guessing like everybody else, even if he and most people think he knows what he's doing. it's not the man that's the problem, it's a structural problem where rates are dictated by committee instead of the market. just like the cawmnists.

BTW, those higher rates were not what killed the dotcoms imo--rather, it was a realization that most did not have viable business models. the easy money just dried up and had massive reverberative effects on the IT world which was supplying them.

but you bring up an interesting point about oil--quite amazing that it has imploded in the face of an imminent war in the oil zone. but then again, going out about town thousands of miles from where terrorism struck, economic activity barely crawls here in flyover america. so who needs oil?
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