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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (11469)	3/13/2001 12:03:57 AM
From: pbull	Read Replies (1) \| Respond to of 13572

That's what most everyone thinks. We've taken about 700 points off the Dow in two days (about $20 billion alone in GE today), but most so-called blue chips are wildly overpriced for a recession, which is what's happening. That is the reality. The other big point here, and this is just my opinion, is the Fed. What is the perception of the U.S. Fed in Europe? In Asia? Is there a confidence crisis, a credibility gap? Are foreign institutions taking money out of the world's "safe haven?" Greenspan's recent remarks, that this adjustment would "have to run its course," certainly leaves the impression, with me, anyway, that the Fed is impotent to stop it.