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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.01+1.6%Nov 12 4:00 PM EST
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To: TobagoJack who wrote (6930)6/3/2006 5:02:52 PM
From: Maurice Winn  Read Replies (1) of 217734
 
TJ, throughout Y2K, I was puzzled as to why Uncle Al did not rapidly drop interest rates as it was more than obvious that irrational exuberance had not only come to an end but there was a Biotelecosmictechdot.com bust underway. I realized later than I should have done that he was aiming at a Republican win [he and his cohorts] by keeping interest rates higher than they should be to squeeze the incumbents.

Unfortunately, by the time he [they] realized what was going on, they were stuck with a biggish bust, though it never amounted to a very big deal in the Dow, even with 911 thrown in to really frighten the horses.

But apart from that little effort, he did a sterling job over the decades. Which I don't think is all that difficult. Raise interest rates when it's too cheap and drop them when demand falters. It's a bit like pricing bananas, or Globalstar minutes for that matter.

Mqurice
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