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

To: LLCF who wrote (15618)	2/25/2002 11:42:08 AM
From: Ilaine	Read Replies (2) \| Respond to of 74559

>>The fed wanted to 'stomp out speculation'... sort of rings a bell no??? Greenspan wanted to stop irrational exuberance.<< Well, that was my point. >>Wonder if they'll hyper inflate like Germany<< Er, German hyperinflation was in 1922-1923. Germans did NOT ease after the 1927 crash. Deliberately deflated the money supply to conserve gold reserves. 25% unemployment led to Hitler (Nazis, at first thought to be the lunatic fringe, got a larger and larger percentage of the vote as the economic situation worsened.) >>or let things shake out like '29?<< I fail to see how central bank action OR inaction can in any way, shape or form be called "letting things shake out." By "letting things shake out" you imply that there are free market forces at work, IMO. Nobody in power really believes that free market forces should be allowed to work unhindered. Look at all the hysteria over derivatives. What's the main complaint? They are unregulated. Everyone knows that capitalists are nasty, evil people who are out to destroy the world through selfishness and greed, so they must be regulated by the benevolent forces of government.