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Strategies & Market Trends : Strong Industry Groups - Strong Stocks

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To: Sam Raven who started this subject	11/14/2001 10:35:01 PM
From: Sam Raven	of 1567

Some interesting comments from Chairman Alan Greenspan's speech at Rice University: "The failure of oil prices to rise as projected in the late 1970s is a testament to the power of markets and the technologies they foster. Today, in real terms the price of crude oil is three-fifths less than in December 1979. It is encouraging that, in market economies, well-publicized forecasts of crises more often than not fail to develop, or at least not with the frequency and intensity proclaimed by headline writers. This was certainly the case for the concerns about potential surges in the price of gasoline this past summer. The reason, of course, is that producers and consumers alike react to price signals in ways that help to fend off the predicted disasters." Chairman Alan Greenspan

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