Jim, Re: < More like 2.5 years ago. They were probably too little to late and based on the y2k bubble, likely were ineffective anyway. After the bubble we were destined to crash, no?>
The last 1/2 point increase came on May 16, 2000.
federalreserve.gov
IMO, they were late, excessive, and on the wrong side of the action. I said as much in
Message 13771496
At the time we were in the process of taking $5B/year out of the economy. That process has accelerated recently.
Within a month I said the economy was *DOOMED* if they didn't reverse course by November(2000). But Alan didn't *GET IT*.
It's be too late, now, IMO, unless he gets agressive, and I doubt he's got the balls for that.
He's a tired old man who's been proved wrong.
I sold a goodly part of my market holdings and put them into Property in late 1999. I'm selling property now.(Just took 7.5% mortgage back on a central Jersey 1/2 acre and house last month.)
Re: <You can have a couple million in cash and barely make enough interest to live off it.>
Cash some capital and keep it liquid.
It's going to get *VERY* valuable soon, IMO. And stick a $ or two in stuff like gold, diamonds, and powerplants.
tgptndr |
