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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (1247)	3/17/2001 8:59:34 PM
From: Cush	Read Replies (1) \| Respond to of 5144

Hi Shack. That's what I like an opposing opinion. :o) Its funny how everyone thinks Greenspan is behind the curve simply because the stock market is tanking. I don't think of the stock market as a Vegas type situation. For me, the stock market represents a place where funds are invested in industry. As the markets have tanked, those funds are drying up. The money that people would have been willing to invest in entrepreneurial growth in science, medicine, and industry in general, isn't going to be there. I don't think the LOW interest rates created a bubble. In fact, whatever bubble there was, was IMO mostly in the heads of old economy thinkers. People like Greenspan were so convinced that the boat was overloaded and no one would listen to their warnings that when the old man punched a hole in the bottom of the boat and it began to sink, they felt it supported their premise. I think they were wrong but now we'll never know. The confidence of investors is falling, IMO. I don't think that's a good thing. Industry (especially technology) has to begin aggressively investing money again. For that to happen, a change of sentiment has to happen. Perhaps the Fed could help change that sentiment. I'm not sure anymore. I think the uncertainty that Greenspan has created will dampen some of the good effect that even an aggressive rate cut would provide. He's made sure that he was right, even if he was wrong. Cush