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To: Windseye who wrote (87935)	12/14/2000 11:00:56 PM
From: MeDroogies	Respond to of 97611

Actually, his actions had alot to do with people reevaluating the dot coms, and had little to do with his overestimation of them. He was well aware most of them would go bust. The fact that they did isn't what is causing the market to tank. It is that the irrational exuberance that drove them up is precisely what drove other stocks higher. Greenspan is trying to moderate that, as he reasonably should. Take a look at the inverted yield curve. It is pretty severe, and hasn't been this bad in some time. Usually, that indicates a recession and that lower interest rates are coming....leading to growth relatively soon. Soft landing is indeed what this will be. I have a feeling that after all these years, nobody really remembers what a recession is like......