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Pastimes : Ask Mohan about the Market

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To: Tommaso who wrote (8981)	11/22/1997 5:54:00 PM
From: Zeev Hed	Read Replies (2) of 18056

Tommaso, you a liberal? Your post on AG reminds me of the old French joke, when Chirac is approached by the "Defense Interieure" and told that his 22 year old Grand Son is a communist, he responds: "if you are younger than 35 and not a communist you have no heart, if you are older than 35 and still a communist, you have no brains, give the toddler some time.". Here of course, AG is going the other way (VBG). As a matter of fact, it was AG and bunch of big money people that stop the 87 crash from developing into a full fledged catastrophe. I think Greensapn has finally realized that with a big ship as the US economy, you cannot turn on a dime, and any change has to be gradual. Sharp changes cause economic dislocations, and as a result wasted resources. He'll step in the breach if it appears that a major sudden decline in equities were to develop. I believe he is mainataining artificially high interest rates so he has ammunition left just for such an eventuality. Zeev

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