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Strategies & Market Trends : Classic TA Workplace

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To: patron_anejo_por_favor who wrote (19655)	11/6/2001 5:21:19 PM
From: 4rthofjuly007	Read Replies (3) of 209892

things may "work out" No pun intended. I know AG gets alot of criticism out here (to put it mildly) but I will give him credit for tightening up pretty hard much to the dismay of Wall St. who I'm sure had some AMZN stock to sell to the sheep for $5000/share. Obviously, he is trying to work out the situation in a way that deflates the bubble but has the economy at least land on soft ground. I don't think he could have done much to prevent the bubble in the first place. In retrospect the easing policies in late 98 made things worse but for a bit there it looked like a nasty global crisis was around the corner. I think AG himself has even commented that periods of boom and bust are unavoidable given human nature. I see what they are trying to do and they may be able to pull it off. Don't get me wrong. There will be alot more pain. It may take years. But given the excess we had, excess perhaps much greater than that in the 20s,preventing an all out melt down would be a job well done.

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