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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

+0.6%

Nov 7 4:00 PM EST

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To: TobagoJack who wrote (10682)	10/27/2006 12:41:49 PM
From: Maurice Winn	Read Replies (1) of 217579

TJ wrong again on causal relationships. It wasn't "easy" money which made the biotelecosmictechdot.com P:E madness, it was the madness of crowds: <Greenie lowered interest rate amidst already easy money, engendered stock mania, then doubled up due to irrational fear of Y2K ... the share market blew up, which then echo-ed into being the housing bubble and the debt binge ... > Irrational exuberance was a 1995 phenomenon which continued to Y2K. He didn't double up for Y2K, just loaded a fleet of helicopters with cash, which didn't have to take off. He did as expected when the Y2K bust came and decided to launch said helicopters anyway, having them conveniently ready to go. When 911 arrived, he went whole hog and slashed interest rates to record lows [for the USA if not Japan]. The Dow didn't go nuts with irrational exuberance. It was mainly the eyeballs economy. The Dow just needed a crunch [as predicted by the amazingly prescient Mq in 1999] to remove the "wild" from the wild-eyed speculators. Uncle Al KBE didn't engender the stock mania. Though he did encourage the housing enthusiasm - excessively I thought. The trough in interest rates was too long. He was too slow cutting interest rates in Y2K [I thought at the time to help Bush win], therefore exacerbating the fall in share prices. Then too slow raising them again. Mqurice

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