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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (1294)	5/15/2003 1:45:33 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 4907

it was completely obvious to many people. There were several people on SI (of which, I was one) who gave solid evidence that the Y2K bug was a non-event. I'll see if I can find some examples. here's one Message 11043373 Message 10592253

To: jrhana who wrote (1294)	5/15/2003 10:46:33 AM
From: GraceZ	Read Replies (1) \| Respond to of 4907

The point is its not possible to know what is the right action until after the fact, something they know yet continually ignore. Everyone makes mistakes and that was one that the Fed made. It threw gasoline on the fire of speculation to pump that money into the system at that particular time. The other mistake AG made was the famous call from a phone booth back in October 1998 when they lowered rates in response to the Asian crisis. These are two really good examples of why I think that the market is a far better mechanism for setting the price of money then a committee. Now the Fed has been setting the price of money for so long no there is no free market in money anymore.