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.

Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: que seria who wrote (10629)	11/20/2001 11:26:49 PM
From: kodiak_bull	Read Replies (2) \| Respond to of 23153

Que S: No worries, I think Telemarker and I (and all of us) have enough history so no offense was or will be taken. At least I haven't gotten any nasty p.m.s yet. I was simply responding to that one part of his question, about the modern financial system. I actually like it, including the fiat money part. I like M1, M2 and M3 zooming around, equity markets, junk bond financing, hostile takeovers, central banks--all of it. It's amazingly flexible, yet disciplined. If you abuse the tenets of economics (which, see, Japan and Argentina, Germany intra-wars, Russia since forever) you will be punished. I don't think leaving the gold standard has impoverished us. Besides, I don't think wealth equals a stable currency, although a strong currency is probably a very good thing to have if you want to create wealth. I think Mike Milken was a genius and simply got a bad rap (at the hands of the fraternity brothers, Morgan Stanley, Goldman, Merrill, etc.) I think you can use monetary tools, a la Greenspan, to help smooth the way. If it hadn't been for the Giant Fool, Lyndon Johnson and his Vietnam Midlife Crisis (e.g. trying to have both guns and butter and no taxes), we might have found that monetary policy alone could have smoothed the entire 5 decade post WWII period. Who knows? I think we've seen the autumn 2001 top for the Naz already, and maybe for the Dow as well. Saw Abbey J. on TV claiming the recent runup was justifiable. Funny thing, most of the cheerleaders of the 90s (Blodgett, Meeker) are either cashiered or forgotten, Abbey J. is trying to hang on. Kb