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

To: GlobalMarine who wrote (138)9/9/1998 8:45:00 PM
From: Tommaso  Read Replies (1) | Respond to of 259
 
There are enough irrationalities to deal with without injecting ideas such as that the Federal Reserve does anything to control the equity markets directly. Their powers are great but do not include that.

Central bankers are among the most conservative of human beings and are hardly likely to risk prison terms by resorting to the incredible subterfuges that would be needed to exceed their authority in that way. For that kind of self-assured and arrogant presumption you need an Oliver North, not an Alan Greenspan.



To: GlobalMarine who wrote (138)9/9/1998 8:47:00 PM
From: Jay8088  Respond to of 259
 
I guess you are right about Fed buying index futures - although I am sure that they don't say out loud in public. Hmmmm..so the Fed is actually 'supporting' irrational exuberance? I find this kind of action troubling. Anyhow we are in a bubble of a historical proportion. I am not sanguine about the current situation at all.


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