To: tradermike_1999 who wrote (6008 ) 7/19/2001 6:34:26 AM From: Maurice Winn Read Replies (1) | Respond to TM, I think you've got it all wrong. I think a LOT of people love to hate Alan Green$pan and their thinking gets coloured and florid as it does when they think of $ill Gates. Alan Green$pan said it all just so! Great stuff. The USA should be thrilled that they have such great people to run the place [not to mention the world too].Since April we've "bottomed" and everyone still believes technology stocks are overvalued. They just don't think that matters. >. If the markets make a new low before the year is over they will completely crash and the final bull marke conviction - that Greenspan is the investor's friend- will be destroyed. You'll see a crisis of confidence across the country over the men of power running the financial system. Greenspan will become the chief villian and the Scared Crow will be blown across the fields as Bush and the Treasury Secretary look on in worry. Let's hope things don't come to that, but with the odds of a second half recovery quickly dimming, it is looking more and more likely. The Fed has spent its bullets. >He says that businesses will resume capital spending because of the opportunities of technology. Well, why would they do that now all of a sudden when there is a huge glut of technology goods out there? >What Greenspan doesn't mention is the source of all of this which is his knee-jerk Scared Crow drop in interest rates back in 1998 to bail out banks which had given bad loans to third world nations. His policies created the stock market bubble and the unwinding of that bubble is what is causing the current downturn. His policies are the cause of the bear market and the hundreds of thousands of people who lost their jobs this year. >
