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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Joe Btfsplk who wrote (1812)	2/1/2001 12:25:11 AM
From: TobagoJack	Read Replies (1) \| Respond to of 74559

<<Given the tools Greenspan has to work with>> Questionable that Greenspan has "tools", as opposed to the singular tool of "liquidity". The book "Devil takes the Hindmost", purchaseable from that Amazon outfit born of the current boom, gives an excellent historic briefing on many of the manias past. Curiously, the manias share one common denominator, and you guessed it ... "liquidity".

To: Joe Btfsplk who wrote (1812)	2/1/2001 10:13:04 PM
From: tradermike_1999	Respond to of 74559

There are plans in the California Legislature to raise taxes and issue state bonds to give money to the power companies so they can be bailed out. If I start a business and fail no one bails me out. People like Alan Greenspan have carried out bailout after bailout and tried to take the risk factor out of investment. Instead of the big money folks paying for their bad investments now the economy will when the credit bubble problems unwind. You can't socialize risk in a capitalist system. You either have a command economy or free markets. You can't have an economy where the rich and Wall Street crowd get bailed out whenever they make a mistake and you have to pay their bills.