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

To: Eddy Blinker who wrote (36754)	5/31/2000 3:17:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 42523

Eddy, i don't think they are in a position to allow or disallow anything...the credit and asset price excesses as well as the consumption and capital investment booms (all part of the credit excesses of course) will inevitably bring on a recession at some point. the longer and more intense the preceding boom, the more sobering usually the bust that follows in its wake. imo, a recession is in fact needed, to weed out the malinvestments and excesses and restore some spiritual balance as well, away from the greed that has so dominated the past two decades ( i guess that's what you're trying to say as well anyway). it would also allow for some introspection regarding the blind belief in scientific progress that is permeating society now. science and technology are held in a lot less regard during bear markets as it were. btw, in spite of my very vocal criticism of the mania in recent months, i used to be a raging bull for a very long time....but i think things have gone way too far, especially since the latest phase of bubble expansion has begun with easy Al's '98 rate cuts and then accelerated due to his y2k printing spree. we need a period of restoration of balance ...we need to take a step back so we can step forward again on a more sound footing.