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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: carranza2 who wrote (69688)6/18/2008 5:33:09 AM
From: Maurice Winn  Read Replies (1) of 74559
 
C2, there was no inconsistency there. Uncle Al KBE is indeed a marvel of financial relativity theory. When I referred to him as that blundering undertaker, that's just compared with the superlative wisdom of Mqurice the Marvelous who correctly identified the right time to lower and raise rates. Compared with garden variety humans he is still near-deity. The undertaker reference is using Ayn Rand's nickname for him, which was obviously a term of endearment.

But perhaps he was more amazing than I give him credit for and he did indeed delay lowering rates in Y2K to ensure a George W Bush victory, like Bobby Fischer putting his knight against the wall [the crowd gasped] against Spassky, being a strategic move to bewilder the opposition and bring a checkmate.

An on-time interest rate lowering would have been theoretically right, in the short term, but if in the long term, Al Gore had got control, the damage would have been immense. Similarly, he was slow in raising rates in the face of the housing speculative boom, which again got George W Bush back into power with robust dividends continuing to flow from QCOM to me.

If he had quickly raised rates to stifle housing hysteria and irrational exuberance, King George II might have been evicted.

We should give thanks daily that Uncle Al KBE has used financial relativity theory like a master conductor. People should read his "irrational exuberance" speech again [I suspect few actually did as they are mostly illiterate with attention spans too short to get half way through].

Mqurice
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