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To: cnyndwllr who wrote (87614)	2/17/2001 9:13:40 PM
From: Razorbak	Read Replies (1) \| Respond to of 95453

Ed: "he cannot afford to pump enough liquidity into the economy to bring the nas back near term... " I don't think that's one of Greenspan's priorities. I think he's only looking at the big picture. I think he's fully prepared to let a few bulkheads collapse (manufacturing/NASDAQ) as long as he can save the rest of the ship (U.S.S. Economy). Razor

To: cnyndwllr who wrote (87614)	2/17/2001 11:16:59 PM
From: el_gaviero	Respond to of 95453

Roebear (87588) Razorbak (87608) Cnyndwllr (87614) Three superb posts. In the zone. Thanks. Cnyndwllr thanks, especially. Yes: 1) the same medicine can’t be applied to all parts of the economy. Tech’s problem is overcapacity; energy’s problem is under-capacity. (Obviously --why didn’t I think of that….I mean, I knew that --- I knew assets have to go towards energy, which is why I still have a high percentage of my portfolio in energy related stocks, but I hadn’t put my thoughts together succinctly. You have helped me do so -- which is truly a great help, even if the thoughts turn out to be wrong.) 2) Second excellent point: Greenspan wants to keep things together until resources can be deployed where needed. But: “ If it is perceived that he has lost his ability to fine tune the economy through monetary policy, the crisis in confidence that results will be interesting to observe.” Good stuff -- (a topspin back-hand, whipped down the line, landing six inches from the back tape). Gracias.