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To: Alok Sinha who wrote (28002)	2/18/2000 6:35:00 PM
From: QwikSand	Read Replies (2) \| Respond to of 64865

I don't even think the "selloff" today had anything much to do with Greenspan, although that's the standard excuse the media always has to give. I heard Greenspan testify, and all he said was basically the same thing he says every time, unless I missed something. In fact, the one thing he could have said that would have understandably sent the market into a tailspin, which was tightening up on margin requirements, he specifically said he wouldn't do because it disadvantaged the small investor too much. He's got one line he delivers every time. What could it possibly have to do with a selloff? I think the selloff today was mostly because of traders not wanting to hold positions over the long weekend. But what, on the other hand, do I know. --QS

To: Alok Sinha who wrote (28002)	2/20/2000 9:10:00 PM
From: Mephisto	Respond to of 64865

[The growth in the economy is being fuelled by trends (consumer spending, growing debt levels, falling domestic investment, growing trade deficits, wealth effect from rising equities)] You summed up my fears! And what do the politicians want to do? Cut taxes so consumers can spend even more........... In the future, the next generation may not worry about social security insurance because they may not need it. They've inherited their family's wealth. Whether they will know how to keep it is another matter. Best Wishes, Mephisto PS: I think Greenspan has done a good job. I hope he can find a soft spot for us to land so that we can postpone the inevitable recession.