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To: Real Man who wrote (5661)7/25/2000 1:25:31 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
the term bear market wasn't mentioned - bear markets are after all associated with a not-so-stellar performance of the economy, and are thus off limits discussion-wise. the possibility of a bear market would imply the possibility that the Fed's management of the money supply over recent years will in fact prove inadequate at some point in the future - a notion currently not entertained by anyone on the hill, except Ron Paul.

i find it personally quite astounding how the MAIN problem, the primary imbalance in the economy if you want, is never even touched upon in these Humphrey-Hawkins love-ins.

namely the fact that debt in the economy grows many times faster than the economy itself, even without taking into account that economic growth is vastly overstated via hedonic adjustments to the data.

no-one seems to worry about what this ultimately means....

re. the market going nowhere for a long time, very true...the distribution phase after a mega secular bull, or the consolidation before another leg up? that is the question....