To: limtex who wrote (71487 ) 5/4/2000 9:59:00 PM From: jmanvegas Read Replies (4) | Respond to
limtex: You may be correct. But AG is an old line economist thrust into the new paradigm which he doesn't understand which is obvious. I get the feeling in listening to him that he's starting to believe he's an expert in everything. That is on the verge of meglomania and at his age paranoid meglomania. He's an expert on the Internet, an expert on technology, an expert on everything to do with money, and worst - he's a control freak not intent on letting markets do their thing. The markets always adjust naturally and at this stage of the economic cycle, the Fed attempting to control the markets and wealth creation reminds me of the Nixon price controls in the 1970's which failed miserably. Controlling people's behavior, controlling wealth creation, & controlling markets are the not the Fed's charter. AG is redefining that charter and for that he should be ousted and removed. In my over 25 years of investing I've never seen a Fed Chairman so much in the public eye with the whole world groveling at his feet waiting on his every word. And now the other cronies on the FOMC are speaking weekly with the markets awaiting their every word. This is lunacy but that being said, you can't fight the Fed, no way, no how. If he brings down the economy and puts people out of work and puts us into a recession, then he'll go down in infamy and all his previous years at the helm of the Fed will be all but forgotten. In this AG environment, investing in anything is perilous. Bonds, stocks, commodities (except natural gas) - you name it. Real estate is next. Let's not only crush the new economy, let's really crush the old economy. Why don't we really put a hurt on those old world companies and import everything. So what does AG want us to do. Put everything into the money market and sit by. Well now you've got Japan all over again and maybe we're headed that way. And if that happens, the whole world economy will stagnate and go down also. I for one am anti-Fed, anti-Ag, anti-FOMC. I'm for free markets untethered by 74 year old meglomaniacs. There are many who believe AG is the greatest thing since oreo cookies. I've said this before and I'll say it again - AG is just plain lucky to have been the Fed Chairman at the time Reagonomics was taking hold along with the greatest technological era in history. He didn't engineer anything - he didn't contribute one iota to wealth creation. He just happened to be at the right place at the right time. He and the entire FOMC could jump off a cliff and it wouldn't change a thing IMO. Markets rule, markets will always rule, markets will always adjust, and markets are bigger than anyone. In the meantime, if the Fed moves ahead more aggressively than expected, investors will get crushed and the shorts will rule the day. Bernard Baruch - where are you - 1929 deja vu again???
