Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

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Jun 26 5:00 PM EST

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To: Doug who wrote (747)	1/19/1999 6:48:00 PM
From: KeepItSimple	Read Replies (4) of 3543

I'll never short again. Greenspan isn't going to do anything, or say anything negative about the stock market. He will not mention "bubble" The reason? Tonight clinton is expected to unveil his new plan for saving social security- he wants to invest the money in the stock market. This is a very scary thing. Look, the government was willing to go into debt for trillions and trillions of dollars over the last 30 years in order to keep the voters happy through deficit spending. Now, it appears the government is saying that the stock market is the savior for our economy and for our retirement. It seems to me that the government will be just as willing to "spend" trillions and trillions of dollars of added liquidity to keep the stock market going. This is an environment where the market will be considered "Too big to fail" and will be propped up at any cost. If Greenspan can bail out long term capital inc because it would hurt a bunch of rich investors, dont you think he'll do everything he can to keep the bubble of the broader market alive? If that bubble bursts, it would hurt a lot more people than LTC ever could. Given this new cowardice by the president and greenspan, tomorrow morning I'm going completely long. No short positions whatsoever. The government has spoken, and they have said "The bubble is good." A very sad day for our country, but there is no way to fight the trillions of dollars that the government is going to pump into the market in order to keep the average citizen "wealthy."

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