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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Broken_Clock who wrote (22093)5/15/1998 2:03:00 PM
From: waverider  Read Replies (1) of 95453
 
>>Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence.<<

The morning of the 1987 crash the FED let all the banks know that they would flush liquidity into the system and not put a strangle hold on monetary policy. THAT is one of the main reasons we survived 1987. The FED has learned. This isn't 1929.

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