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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (16482)	3/12/2000 10:15:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 42523

Peter, not one is my guess. the 'free market' is a theoretical concept at best. governments always intervene when an opportunity to do so arises. see Hong Kong (successful), Japan (unsuccessful) , Malaysia (no-one really knows what the outcome will ultimately be). as for the Hong Kong intervention's success, i believe the market was ready to bottom anyway. the real driver was the Fed's priming of the pump, and that is still a dangerous strategy in the long term. imo they have created short term stability at the cost of long term instability...people are now lulled into believing the Fed will always save them. it will try, yes. but one of these days it won't succeed anymore.