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

To: Maurice Winn who wrote (26931)	1/6/2003 3:33:59 AM
From: smolejv@gmx.net	Read Replies (1) \| Respond to of 74559

>>And, even if there is a breakdown every century or so, a financial reset in Jay's parlance, that's the price of progress. A spot of financial entropy. << It just hurts like hell. >> There are futures contracts stretched out for years. There are wall to wall derivatives to counter distortions. Hedges, checks and balances avoid rapid failure<< Agree. There's much too much of that, though. Example: now that everybody has interest swaps, well, why not raise the interest rates back to normal (whatever that means). Or why not just peg them to zero - it's all hedged now you know, forget the theory of interest rates etc. >>It's certainly a different financial world from a decade or two ago and much different from 3 decades ago.<< Agree. Still learning by doing it though.