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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Frank Ellis Morris who wrote (54519)	12/19/2000 4:35:48 PM
From: sandeep	Read Replies (1) \| Respond to of 74651

Now msft trading below 44.

To: Frank Ellis Morris who wrote (54519)	12/19/2000 5:23:35 PM
From: Dave	Read Replies (1) \| Respond to of 74651

Mr Greenspan would do the country well to resign. It's too late. That would have been a great move ten years ago, but the damage has been done. Greenspan is the very man who fomented the credit bubble that fueled the equity bubble that is popping all around us now. Now he can't resign or the economy would cave in. The market puts far too much faith in Greenspan, which acts to increase his effect on the economy. It's a vicious cycle from which he cannot save us. When the market finally realizes that Greenspan cannot save it, it will be too late. It may be now. The last time we had so much blind faith in the superpowers of the central banking system was the late 1920's, and we all know how that turned out. Greenspan can't cut rates much, because then foreign investors will dump their dollars and the economy will go into a tailspin. He can't raise rates much because that will fuel the stagflationary fires. He's backed himself into an ugly little corner. That little stunt where he lowered interest rates just fifteen minutes before options expiration in order to bail out LTCM will go down in history as one of the most egregiously irresponsible moves in Federal Reserve history. The massive monetary buildup before Y2K will be remembered as the kerosene thrown on the final incendiary bubble blowoff. Dave