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

To: Mike M2 who wrote (17361)	3/26/2002 12:25:09 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 74559

he went to harvard business school dude. save your breath

To: Mike M2 who wrote (17361)	3/26/2002 1:10:19 PM
From: AC Flyer	Read Replies (4) \| Respond to of 74559

>>propping up unsound industries did wonders for the Soviet union<< No-one is propping up unsound industries. The only instance of this that I can recall in the US is the Chrysler bailout, which was a while ago now. >>The problem with supporting the bubble is the wealth redistribution that results<< The Fed. is focused on the real economy, not the stock market. The wealth redistribution that has taken place over the last few years is from the dumb to the smart. Same old same old. I've been on both sides of the redistribution, fwiw. Lately more on the smart side, which is better. >>Look at the malinvestment so far the AL.CON internet bubble, telecom bubble, tech bubble, Enron , Global Crossing. to make the obvious point << No different from other major market cycles and has more to do with the introduction of transforming new technology than anything else. The same thing has happened many times - with the railroads, radio, the automobile, etc., etc. These other periods of malinvestment all took place without Uncle Al's help. Malinvestment is intrinsic to capitalism. The difference between the US and others - like Japan - is that here the malinvestment gets washed out quickly. My long distance phone service is Global Crossing and it has worked just fine through the GLX bankruptcy. The only thing that has changed is that the ownership of the physical assets has been transferred from the bubble investors (dumb money) to Jay Chen's uncle (smart money). So what's the big deal? You're trying to make a medieval morality play out of this. >>The longer the bubble continues the more rotten the system becomes<< Rotten? How? Define rotten. Why don't you like low interest rates? I like them. Millions of mortgage holders like them. There's nothing rotten about low cost money. >>We will find out why it is a bad idea because I am suspect the gov't will implement this policy<< What policy?