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To: Lizzie Tudor who wrote (153641)2/24/2003 9:19:23 PM
From: Alex MG  Respond to of 164685
 
yes sure, the recession hasn't been any worse, SO FAR

but, the stock market bubble was a "perfect storm" on the upside, the biggest in history

it started to get parabolic with the telecom deregulation in the mid-nineties, this is where the massive overcapacity started... then of course the internet mania added fuel to the fire, and finally the Y2K overhaul... these were all extraordinary one-time events that were lined up perfectly

then add in all the corruption and bogus accounting... and the bogus accounting still exists, Pro-forma earnings are a total lie... core earnings are still in bubble territory, and there is no reason to expect the valuations to become reasonable unless prices go down further... just a matter of time



To: Lizzie Tudor who wrote (153641)2/24/2003 9:35:20 PM
From: Alex MG  Respond to of 164685
 
as for Greenspan, he definitely will go down as 'a' cause of the bubble... just look at his statement in late 2000/early 2001... in one of his speeches he painted a rosy outlook for the economy based on "analyst's earnings expectations"


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