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To: Oblomov who wrote (182283)	7/23/2002 3:57:35 AM
From: KeepItSimple	Respond to of 436258

Judging from the futures skyrocketing and the dollar doing a parabolic moonshot right now, I think it is pretty clear that "they" have decided to give it one last try to restore confidence. Why not? The alternative is so unspeakable that it could mean the destruction of capitalism for a generation. It's worth a shot, no? Fresh accounting scandals be damned. We're going to rock and roll like it's february 2000 !! Maybe a nice 800 point rally in the dow would convince all the sheep that the bottom is in? If they can convince enough people, maybe it would work? A 1/2 point interest rate cut down to 0 for the overnight bank funds would certainly help things along. After all, the entire LTCM bailout in 1998 was financed by letting all the banksters in on the last-second-before-expiration rate cut in advance. Talk about profits! Or did you think greenspan offered them sexual favors in return for putting up the loans and not calling in the obligations of LTCM that blew up? Look for a rate cut, TODAY, right before the markets open..

To: Oblomov who wrote (182283)	7/23/2002 4:59:04 AM
From: Don Lloyd	Read Replies (2) \| Respond to of 436258

Oblomov, One of the great academic travesties of the past 30 years has been the total evisceration of qualitative economists from university economics departments. mises.org Regards, Don

To: Oblomov who wrote (182283)	7/23/2002 11:01:10 AM
From: Bill/WA	Read Replies (1) \| Respond to of 436258

Oblomov, I followed the replies & responses between you & Janko. Boy, you guys lost me!-g- I always related to that movie with Roodney Dangerfield, the one that he went to college with his son. Sitting in a (econ) classroom, the prof. was talking about the process of building a widget factory. RD tried to correct the prof's simplistic, academic procedure by telling him, "First you have to have somebody on the zoning committee in your pocket, then you have to pay off the building inspector..." The prof was absolutely agast! Many, oh so many times in the classroom I found academia completely divorced from reality, and not just to single out Kathleen Hayes, but she seems to be an excellent example with the look on her face, the increase in her speaking, when she tells us about newly published numbers, what they mean and what the results WILL BE. And then that pleased look on her face when she's finished as if she's thinking, "There, I've given you the numbers, told you what they mean, and told you what will happen because the (economic) Bible told me so." Human nature, actions, and thinking, IMO cannot be out into a formula. That's why my NVDA puts expired worthless in Jan 02 but would've be VERY deep ITM today.-g- <<I think that the "behavioral finance" theories of Robert Shiller, Andrew Lo, etc. are a promising replacement for the current academic econ regime.>> Probably very true.