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

To: portage who wrote (15327)	2/21/2002 3:37:19 PM
From: Maurice Winn	Respond to of 74559

<All that Japanese government money propping up the Nikkei is soooo free market. I hear they want to start feeding taxpayer money in to keep some of their banks afloat too. Is that what you mean by paradigm shift ? > Well, it's part of it! Governments are not innocent bystanders at the markets. It's a reprise of Hong Kong's decision to prop up the markets. It's the same as the USA and Japan deciding that 80 yen to the dollar wasn't going to stand. They are in the money business and currently hold a monopoly on the money business so they should run that money business as well as they can to maximize revenue and profit. They need to be careful because they can't use their money to measure their revenue - that's like us using a metre to measure how big things are in the universe. Sitting around the edge of an event horizon, a metre might look okay, but it gets very elastic. The universe defines the metre and the metre defines the universe. It's the old self-reverential stuff which leads people into so much trouble. Similarly, money is an elastic beast and around a financial event horizon, it gets very elastic. People don't like seeing their money mutating and turning into a malignant monster, hence they swap it for something which they hope will have immutable value. Meanwhile, I notice the Dow didn't strictly escape the black hole, only briefly poking its head above 10,000 today. Therefore, arggggghhhhhhhhhhhhhhhhhhhhhhhhhhhhhh...n, Mq