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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (34945)	3/29/2001 3:02:03 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

Scott, anyone with two eyes and a pulse and functioning brain can see the unfortunate pattern of behavior by the Federal Reserve they left things alone from 1995 to 1997 and wondrous things happened since then we have had the Asian Meltdown, Russian Default, LTCM Collapse, Y2K Bubble, post-Y2K BurstBubble all at the hands of the Fed and GreenBrainless in 1998 in response to crisis, GreenDog cut rates way too much but Robt Rubin was looking over his shoulder, salivating at his blind trust stock account imminent gains not to mention the gains upcoming for his cronies Greeny let things go down too far in 1997-98 with the Asian Collapse we benefited in the form of cheaper imports for months on end but we paid for it when the shock wave made its way across the globe, into our NYC banks I enjoy the heat put on the Fed now, but it is not enough too many in Congress still revere the man and his mysterious policy he talks in a foreign language to the men/women he is supposed to be accountable to imagine speaking to your boss in cryptic terminology, phrases, abstruce concepts the only solution now is for excessively loose monetary policy it wont work until it goes too far, that is how it works look at history we are not talking about the stock&trade methods of 1970's, 1980's they used tax cuts and other one-time intravenous injections back then they were pathetic as the country's economy responded to the new OPEC pricing now it is an undercurrent of liquidity that HAS to find its way into the equity markets they inappropriately use the same tool to rescue that is creating a vast rising watertable of money, which flows into capital equip, into paychecks, into consumer pockets, into stock prices warning: if our banks begin to act like Japan's though, and stop lending despite lower rates, then we are screwed we will get a lengthy recession but the silver lining there, is that eventually an explosion occurs, with Naz rising 80-120% in a few months or weeks just like a ruptured fire hydrant / jim