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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: riversides who wrote (108272)2/13/2010 6:29:36 PM
From: Jim McMannis  Read Replies (3) of 116555
 
RE:"why these bums didn't try to stand up and clap when they were in control....?"

Because everybody was real estate rich. No one wanted to flush the punch bowl. It takes a guts to pull the plug in advance. Americans don't have it. Australia and Germany are better at it but even they drank from the punch bowl.

I remember Greenspan's irrational exuberance comment when the down was about 7-8k in the 90's. He could see it coming but was blasted for being a killjoy.
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