Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (105639)	5/30/2001 6:28:49 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Agree, very nice summary of BubbleBoy's current state of mind. This part was perfection: Moving ahead, Big Al came much closer than heretofore in admitting that he does target asset prices and that the response to these is asymmetric, that there is, if not a Greenspan Put, then certainly a Greenspan Parachute. Allow us to quote;- 'Monetary policy, as we currently practice it, endeavors to lean against the propensities for economic overshooting, from whatever source, by changing interest rates.... Our only realistic alternative is to lean against the economic pressures that may accompany a rise in asset prices, bubble or not, and address forcefully the consequences of a sharp deflation of asset prices.' Notice, too the asymmetry inherent in this: they will only 'lean' against upside excess, but 'forcefully address' the downside. To do that is to deliberately blow another Bubble by targeting asset prices again:- Got gold?