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To: SGJ who wrote (18233)	5/11/2000 8:50:00 AM
From: Voltaire	Respond to of 35685

Hi qcoman, good post. Thanks, Don't lurk so much. v

To: SGJ who wrote (18233)	5/11/2000 9:31:00 AM
From: snowbird	Read Replies (1) \| Respond to of 35685

I agree that the FED is our friend. In fact, I am a little concerned that they have been so timid to raise in the face of this torrid economy. I have seen what inflation can do in Canada during the 70s and trust me I would gladly wait a few more years to make that extra million in the market (g). To add to the list, I think the FED also has regulatory control over margin requirements (not that AG said he favored the tool, but the could always change his mind). I was wondering, does the FED buy back bonds, or is that the Treasury department? I thought Specialists on the NYSE had to buy back in a falling market (albeit at a lower price), but that MMs are permitted to "step away from the market". Just wondering snowbird

To: SGJ who wrote (18233)	5/11/2000 4:54:00 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 35685

Qcoman, the Fed is working against free market mechanisms the bond market is trading as much from laissez faire as anticipation of what the Fed will do, with key attention paid to the thought process advertised the long bond, middle maturities, and short paper should determine policy the Fed should step in during emergencies ONLY otherwise, we have a controlled economy we as a free nation cannot criticize communist central committee policymaking and controlling bodies in one breath, then tolerate Federal Reserve Board central policymaking and controlling bodies in the second breath the Fed incorrectly anticipated widespread snafus with Y2K now it is unwinding that error in 1997 the Fed provided a "pre-emptive measure against inflation" we got the Asian Meltdown 3-4 months later anytime you hear "pre-emptive", think destabilization of free market mechanisms that have worked for centuries if the economy needs to cool off, let it cool off on its own thru difficulty in hiring capabile staff, unavailable corporate paper, shrinking margins affecting capital investment budgets, etc. why assume that a recession would be vicious or violent or especially painful? do you truly believe human intervention produces less disturbing recessionary events? why??? do you doubt the internal mechanisms that avoid vicious distrubances? the USdollar and USTBond are excellent mechanisms built in why turn off the money flow spigot? oh yes, to fix the Y2K Fed mistake !!! why attempt to control money? let the free market find an equilibrium I think Greenspan is a dangerous person now without realizing it, you side with communist central planning principles / jim