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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: sylvester80 who wrote (94240)7/14/2002 1:59:00 PM
From: mishedlo  Read Replies (2) of 99280
 
Come on! Do you really believe that? Greenspan made one of his best calls ever with his "irrational exuberance". Nobody listened then. They do now. Interest rates had nothing to do with it. The bubble would have burst no matter what because it was a bubble.

Greenspan is a moron.
If he believed his call then he should have acted by increasing interest rates.

Instaed he threw money at every problem that came along, some of them non-existant problems Y2K nonsense). Others like LTCM he should have let go under.

Then right at the very tip top of the bubble says "bubbles can only be recognized in hindsight". The bubble he helped create he could not see at the top. He believed in his own powers and that he was god. He started believed in "the productivity miracle" and other such horseshit. Right at the top.

Greenspan is gonna go down in history as the worst fed manager ever.

M
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