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To: Rarebird who wrote (83688)	1/19/2000 10:49:00 AM
From: pater tenebrarum	Respond to of 86076

RB, the problem with that view is that the bigger the bubble gets, the bigger the subsequent problems for the global economy will be. so instead of having periodic recessions to clear out excesses and malinvestments, the Fed has opted for a giant credit induced boom that will end up with a MAJOR setback, as aforementioned malinvestments and imbalances are allowed to build up. one of those imbalances is the U.S. current account deficit. 400 billion dollars last year...it's going to come back home to roost. so in my judgment the consequences for humanity of supporting the bubble are NOT desirable.