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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: Master (Hijacked) who wrote (13)	5/24/2000 6:06:00 AM
From: JDN	Respond to of 494

Very sorry situation to have to rely on a CRISIS to cause the FED to WAKE UP and face reality. Inflation just DOESNT EXIST outside of oil and tobacco and possibly food stuffs do to acts of nature. Anyone bought a car, refridgerator, T/V lately? Prices are nearly unchanged or sometimes EVEN LOWER than a year ago. Wages represent on average less than a third of the cost of production and are dropping due to productivity gains. To think reasonable (and thats all they have been outside the EDP field) wage increases cause inflation is prepostorous. JDN

To: Master (Hijacked) who wrote (13)	5/24/2000 10:22:00 AM
From: Joe S Pack	Read Replies (1) \| Respond to of 494

I think the main reason for this recent bubble (since 1998 rate cuts) was due to Greenspan. Why he cut interest rates three times? The actual reason is he wanted to save the idiotic and stupid hedge fund bettings made by Noble Prized idiots who managed wealthy Greenspan's friends and to save some banks. But the mass media and cronies of Greenspan fooled the public crying that Russia and Asian crisis could derail financial stability of our institutions, which IMHO is a total BS. So he created this bubble and realized that it got out of his hand and without any solid data now he is trying to bring it back. Even if he raises interest rates he does n't have control over oil cartels and they are not going to bring the price down as US has gotten addicted to driving big gas drinkers. I think his moves will back fire and eventually retire him. I think people and mass media give more credits to Greenspan than he actually deserves. This boom is mainly due to technological changes, especially internet, communications, semiconductor and software and less to do with FED's monitory policies. -Nat