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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (6367)	9/12/1998 4:09:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 9980

Ramsey, let start with Greenspan. He turned on a dime after the 1987 crash pumping liquidity into the market, IMO, averting a major financial catastrophe. He is continually "jaw boning" the markets to "moderate" their rush to new highs, when the markets were somewhat "exuberant", yet he read the economy pretty well and let it move smoothly ahead. Under Greenspan, the FED actually did not go into prior "manipulation" of interest rates up, interest rates down on every squiggle in the economic data streaming in, and that is, partially, responsible for a relatively long period of economic expansion. As for Rubin, he wisely increased the portion of short term debt (treasuries) when the interest curve allowed him to decrease our interest load. He orchestrated the rescue of Mexico, and I hear we even made money on the deal. He was instrumental in reducing trade barriers and increasing international "free trade". As for Clinton, like any CEO he selected good lieutenants like the two above (well, in Greenspan's case he extended his tenure). Furthermore, he executed an economic agenda (which is more akin to the Republican agenda, Thank you, Mr. President) that resulted in the gradual elimination of the deficit and apparently is getting us into budget surpluses (and Mr. President, do not be "overzealous" in that respect, big surpluses are known to precipitate recessions due to their negative impact on aggregate demand). These are just a "short" sampling, I have many additional "what has he done" but this space is too short. Zeev

To: Ramsey Su who wrote (6367)	9/12/1998 5:23:00 PM
From: Ron Bower	Read Replies (3) \| Respond to of 9980

Thread, I am requesting that there be no more posts on Clinton, Starr, or the current political situation in Washington. We all have our opinions and nothing will be learned or resolved by posting them here. It will do nothing but reduce the quality of the thread. I'm getting too much of this on TV, newspapers, and magazines. If you have an opinion you want to share, write your Congressman, tell your neighbor, but please don't deposit it here. Sincerely, Ron

To: Ramsey Su who wrote (6367)	9/12/1998 10:11:00 PM
From: Stitch	Read Replies (1) \| Respond to of 9980

Ramsey, <<there is something about Clinton that is pertinent>>etc etc Great post Ramsey. I agree. But I would add that it is important that leadership be evident in times of crisis. Even the appearance of leadership is better then none at all. A problem that exists in world wide markets today is the apparent lack of leadership and the clear lack of consensus as to what should be done. That is why the distractions of the Clinton administration are important and why, in the end, it may be better for Clinton to resign. I don't want this thread to become a "Clinton Boink" thread at all but this issue is clearly going to have an affect on world wide market recoveries whether we like it or not IMO. Yet another quote comes to mind which I think comes from Mencken: "The whole purpose of politics is to keep the populace alarmed -- and begging to be led to safety -- by menacing it with hobgoblins, most of which are imaginary ." Best, Stitch Best, Stitch