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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 233.22

+1.8%

Nov 28 9:30 AM EST

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To: tonyt who wrote (31507)	12/29/1998 2:57:00 AM
From: Gary Walker	Read Replies (2) of 164684

>the first time in memory when a bubble this big was created by major houses. I don't agree with you on this. The brokers and analysts are just worker bees. When there's plenty of cash available they're just competing to get some of it! The root cause of the bubble is the Federal Reserve Open Market Committee. Here's an clip from the the November meeting: (Note that all of the FROMC agreed to the October "emergency" cut except Jordan) "Mr. Jordan dissented because he believed that the two recent reductions in the Federal funds rate were sufficient responses to the stresses in financial markets that had emerged suddenly in late August. An additional rate reduction risked fueling an unsustainably strong growth rate of domestic demand." bog.frb.fed.us Where is Mr. Greenspan these days? Under his watch some of the most speculative moments in US equity history are unfolding before our eyes. How does this bode for the future of the US economy?

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