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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (14583)	2/7/2002 2:27:22 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<The other point I disagree with is that Uncle Al's monetary policy caused the internet boom and bust. But we won't persuade each other on that.> <Well, you disagree with Greenspan himself then... that's why he raised rates. Of course ALL economics [social science, remember?] is through the behaviour mechanism of peoples actions... ie. of course people bid up the stocks, Greenspan didn't.> Well, as I say, we won't agree so .... I find trying to reason with people who disagree [generally] makes no progress so I don't bother too much. It does fascinate me though, how intransigent people are to the countervailing argument while refusing to actually address the argument. I think the foundations of that natural phenomenon are the same foundations which lead to irrational exuberance. It's obviously because considering something causing cognitive dissonance is uncomfortable. Which is a circular argument, but I don't care just now. Mq