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Strategies & Market Trends : Bill Fleckenstein, the BEAR! Is he finally right? -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (55)	9/3/1998 7:37:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 259

<<I don't think Greenspan should lower rates to keep the stock market higher. That's not my point of view. >> Whether you intended or not, a rate cut at this point exactly means that! On what ground he will lower. Just recently he said we are enjoying a "virtuous" economic cycle - growth without inflation. We have almost full employment. Companies are flush with cash (ask Abby) There is abundant credit in the market. Why cut rates? Aren't you contradicting yourself? BTW, in the last few days dollar is weakening - not strengthening. It is not the strong dollar that is causing the damage. It is the excessive leverage, carry trading etc. by hedge funds. All due to loose credit. You have seen its upside and you are witnessing its downside. -MMV