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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (26608)9/5/1998 7:36:00 PM
From: Andeveron  Read Replies (1) of 94695
 
>> interest rate LOWERING is possible. <<

Bill, Greenspan said in the same breath that he was as likely to raise rates as opposed to lowering them. I read the speech a couple of times, since he has a circumspect way of speaking, but I viewed it as a warning against complacency. He mentioned the wealth effect that the stock market has embued on a good portion of the populace and the unsustainability of such gains. I.e, a downdraft in the market will reduce purchasing power, slow the economy, resulting in a vicious down cycle. The mentions of the USA being interdependent on faltering nations did not inspire confidence either.

If the stock market crashes, I see it taking out the real estate market next. Values in California and New York have been buoyed by the wealth realized from the market and the loss of this wealth will result in vastly reduced demand. Saw this in the crash of 1987 and feel strongly that what has gone before will happen again.
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