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To: Frank Ellis Morris who wrote (37230)	7/26/1999 4:56:00 PM
From: marginmike	Read Replies (2) \| Respond to of 152472

Are you kidding? The market is correcting due to over speculation. Do you need a scapegoat to blame because YOU are greedy and didnt take profits? The market corrects EVERY LATE JULY. It has happened for the last three years. Though I am neither a supporter, or enemy of AG you are being foolish to blame him. He is jawboning the market down because HE KNOWS HE CANT RAISE RATES. Therfore he is trying to jawbone the long bond rates up. In any case the market has had a huge run and would have found another excuse to sell off if not for Allan.

To: Frank Ellis Morris who wrote (37230)	7/26/1999 4:59:00 PM
From: Nichols	Read Replies (2) \| Respond to of 152472

I EVEN HATE TO TALK ABOUT THIS OFF TOPIC SUBJECT- but so many of you are fixated about The big Green machine. I will say this one time, and hopefully all you idiots that have a problem with Big Al will go to a diffent thread. He is at least partially responsible for the longest bull market in history. Now, you can argue that it would have happened anyway, new tech. etc.,etc., but the fact remains it happen under his watch and he is doing everything right to continue this prosperity that we are enjoying. You all have to forget about one or two weeks and look at the big picture. Again, if you want to debate Mr. Greenspan, don't do it here-go to another thread.

To: Frank Ellis Morris who wrote (37230)	7/26/1999 6:08:00 PM
From: JohnG	Respond to of 152472

Frank. You don't understand Greenspan's problem. He is stuck in the middle of two contradictary problems. The US must continue to prop up the faltering rest of the world economy. Yet he must beat down the exuberence in the equities market---dot coms are a worst case. JohnG I see his problem as one of promoting Asian and European growth and recovery (because the US will eventually go down with them if their economies aren't restored)as difficult as that is (The Japanese have exhibited that they just don't have the strength of leadership to make painful economic decisions; the European socialists also protected inefficient structures, jobs and companes for more than a decade while the US went through painful, hurtful downsizeings, closeings and division selloffs; the Russians won't even set up enabeling commercial law, banking, criminal law enorcement and private property ownership but just keep wanting money transfusions). As a result, he is left primarily with growling, hissing and threatening to 1) keep the US stock market aomewhat deflated 2) keep the demand push inflation in check in the United States. So there has evolved within our government this comic opera between Greenspan and congress. The recent small increase in interest rates was required just to maintain his credibility. He won't increase rates again in the near future unless loss of credibility forces him to do so.

To: Frank Ellis Morris who wrote (37230)	7/26/1999 7:08:00 PM
From: Mr. Sunshine	Read Replies (3) \| Respond to of 152472

"...we are getting crushed due to an on going problem with the Federal Reserve." "... the problem with the markets is in fact Allan Greenspan and his willful intent to create the carnage that is unfolding." "... Does one have to be struck by lightening to understand and wake up to the manipulation of the Federal Reserve? If this keeps up we will soon witness a debacle comparable to 1987." "The sell off is intensifying and pretty soon we are going to loose all our gains from last year. I don't know about you but I don't want this guy to be our chairman anymore. Greespan has demonstrated peculiar and unethical and unprofessional conduct. We would be better off without the threats and hostility he has recently displayed. His job is not to manipulate the free market trades and yet that is exactly what is being done as all of us are now held hostage to his every whim. The justice department has spent all that time and our tax paying dollars to go after Microsoft when it is the Federal reserve that they should be looking at. I say throw the bum out, we all had enough!!!" Frank, Are we facing a margin call today, or what? I looked at your profile and your favorite stocks are: INTC MSFT DELL CSCO MO KO G MER JNJ PFE SGP Can you say "unrealisticly high p/e ratio"? Most of these highflyers are due for corrections. If you have owned them for a while, congratulations; you have nothing to complain about. If you have bought them recently, you need to go back to school and take the following classes: 1. The Price to Earnings (p/e) ratio; What it is, and why it is important. 2. Tulipmania and the madness of crowds (or something like that). 3. Margin calls; Why they are bad and prudent measures you can take to prevent them. 4. Modern Economic Theory; Inflation, Monetary Policy, Fiscal Policy, and government prevention of 1930's style depressions. 5. Stock Market Basics (Take the class on diversification.) 6. Taking Responsibility for Beginners. and it's sequel, 7. If You Can't Take the Heat, Get Out of the Stock Market. 8. Whining; Why it makes you sound immature. And one class that has not been taught in years: 9. Stock Market as a risky investment (also known as "you are not guaranteed a profit") I am sure other thread members can recommend many other classes and/or books that could help improve your future investing returns!

To: Frank Ellis Morris who wrote (37230)	7/26/1999 10:29:00 PM
From: Valueman	Read Replies (2) \| Respond to of 152472

This guy is indeed not a friend but is very much hostile to the markets and at this point we may all be much better off if he would leave. You tell 'em Frank! It is our God-given right to have 20%+ gains every year! The longest bull market and economic expansion in history is JUST not enough! What's your problem Greenspan? Can't you do any better? Give me a break.

To: Frank Ellis Morris who wrote (37230)	7/26/1999 11:55:00 PM
From: Morgan Drake	Read Replies (1) \| Respond to of 152472

I guess I have to agree with Frank. Sure Greenspan has been great for the economy since he took office. Can't fault him there. But why does he have to continue to bash the market? If he has a problem with oil or labor rates or internet stocks, why doesn't he just bash them instead, and leave the rest of the market out of it? If he's really worried about inflation, then he should take steps not to "inflate" the money supply any faster than real growth and productivity gains can accommodate. That's all he has to do. The economy will sort out the rest. If he were truly interested in solely managing inflation, then he should say absolutely nothing about raising interest rates: his testimony should reaffirm the Fed's commitment to seeing to it that the money supply is not increased faster than real economic growth and/or productivity gains can deal with it. So if the economy wants hamburger flippers to get $12/hour, then they will. If the economy doesn't want them to get it, they won't. Changes in real prices (as opposed to nominal prices) are signals to the economy to reallocate resources to a more valuable economic activity from a lesser valuable activity. It's a big deal to the Fed when Lenny Lunchbucket gets a 50 cent an hour raise---it apparently is not a big deal to the Fed when guys like Eisner get $100mm comp packages. We've all gone through a lot of time and effort to find winning stocks like Q and to commit our resources to them. It seems a shame that after we have done this, our investments can get trashed not because of legitimate competition in the market place, but because the govt decides it wants to muscle onto the playing field and "reallocate the scores/points" amongst the various economic players from time to time just for the heck of it. Morgan

To: Frank Ellis Morris who wrote (37230)	7/27/1999 12:29:00 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

Frank, since you speak so ill of my pal Al, I thought I better comment that he seems to be doing things just right from what I see. To say "...Greespan has demonstrated peculiar and unethical and unprofessional conduct.." is, to me anyway, simply absurd. I wrote a long screed explaining how it works. You seem to have skipped it, or failed to understand it, or disagree with it. So I won't repeat it here. Good luck with your investments; I think you'll need luck. My opinion is that you should examine your own undertanding of monetary policy and how it all works rather than misallocate energy to disparaging Alan who I think is doing a great job. If you are surprised or disappointed by what he's doing, it means you are being caught wrong-footed. Since he's doing the right thing, it is the share owners who have to adjust to how monetary policy works rather than the reverse. Mqurice