SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Stockman Scott's Political Debate Porch
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: keynes_harlot who wrote (7714)10/2/2002 9:15:10 PM
From: SOROS  Read Replies (3) of 89467
 
It will certainly have an effect. About the same effect as the Bank of Japan announcing they will buy stocks directly from banks to help offload their massive shareholdings. You saw a big, SHORT rally on that news. Then, reality sunk in -- just more of the same old games. Japan is not yet willing to let the markets adjust naturally, and the USA is in the throws of the same behavior. Taking one's medicine for past mistakes is not easy, but it is necessary if things are ever to be washed out so real solutions and growth can be restored. Greenspan could have taken care of a lot of the problems back in 1996 when he KNEW if was "irrational exuberance", but he could not bear seeing the markets go down and the resultant pain. Now, everyone is paying for his lack of conviction. They can buy back shares and rate cut this to death now, or let the bloody stock market correct to where it should and get on with life! This market should be about 30-40% lower. Whether the powers that be let it happen this month, or choose to play more games and have it eventually bottom by the Spring of 2003, who knows. But it will have to wash out. I guess the longer they delay it, the more insiders will have a chance to suck in more bagholders as they lighten up systematically.

I remain,

SOROS
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News