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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: 16yearcycle who wrote (43874)	3/16/2001 11:02:03 AM
From: LemurHouse	Read Replies (3) \| Respond to of 70976

I think its clear that Greenspan and the Fed have been directly attacking the markets for the past year, despite his protestations to the contrary and his assurances that he doesn't want to hurt the individual investor. His actions belie his words. Moreover, he deliberately obfuscates the issue during his testimony, and our timid senators and congressmen are too busy pandering and gushing over him to even try to cut through the BS. I think the Fed realizes that they overdid it and that they need to reverse course a bit. But their tools are better suited to constricting the economy and markets than they are at speeding things up. So I don't look for much help from the Fed. I don't even think that there is even much of a will to try and do so. The inflation he's most worried about is asset inflation, and he/they are quite happy to have let the air out of the market (as separate from the economy). This guy is all about hubris. I think history will take a rather more critical view of Mr. Greenspan than the adoration that he currently enjoys in the press and on capitol hill. FWIW. AD