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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: XenaLives who wrote (96621)7/21/2002 9:46:08 AM
From: Jack Clarke  Read Replies (3) of 99280
 
Paula:

The physical sin that Clinton committed only really affected his family.

You are correct. The republicans tried to oust him based on his sins (or pecadilloes, depending on your point of view), but their plan backfired because the people didn't care and thought (as I did) that it was none of our business. Also their stocks were going up, and people have warm feelings and are filled with charity during these ebullient times (as Mr. Prechter points out with his wave theories.) When things get bad, those same people will become a snarling and vindictive mob.

Clinton was lucky. He was also smart and bought himself an insurance policy in the first weeks of his presidency (the 1000+ FBI files.) I've always wondered if Greenspan's file was among them. How else to explain his inaction in aborting the bubble. We now have transcripts of the Fed meetings in which he admits we were in bubble and that he could stop it by raising margin requirements. He had the chutzpah to say the opposite to Congress shortly thereafter (bubbameise from the bubblemeister). Amazing. Also amazing that the current politicians seem so clueless about the "V" word.....valuation. What makes them think the S&P should be at twice historical valuation levels forever?

Apologies to Zeev, but I assume the "no politics" part of this thread no longer applies with his departure to ihub.

Best wishes,

Jack
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