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Strategies & Market Trends : Group Therapy -- Ignore unavailable to you. Want to Upgrade?

To: Alan C. Zezula who wrote (2752)	12/6/2000 11:00:49 PM
From: Duane L. Olson	Respond to of 4564

Al, Agreed. Exasperated is a good description. Since '73-74 there is nothing in my experience to match it. At least in '73/74, it became clear early on that the oil crisis and government actions were going to tank the economy. So of course we could pull our money and wait for the bargains. In this market, everything looked on track -- there was no reason for an excessive decline.....except that an excessively heavy hand by the Fed pushed the economy over a cliff that not many saw. Sure, some of us were yelling bloody murder that the Fed was overdoing it, but even then we had few that saw the extent and severity of this drop. Sure created some "bargains"...but that does little good when most folks have had their capital trashed... Makes me wonder -- do we really need a Fed if it can do this kind of thing to so many people? There are proposals to replace the Fed with a PC.... it would be easy to get my vote... tso