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

To: Zeev Hed who wrote (6368)	9/12/1998 4:46:00 PM
From: Ramsey Su	Respond to of 9980

Zeev, your response is in clear support of my theory. Pump up these individuals into greater than god status so that "jaw boning" is enough to influence the market. Do you think Volker, or Joe Dork, would have done differently? Greenspan is the chairman of a Board. The Board decides what action to take, not Greenspan. By the same token, any Treasury Secretary would most likely have done something. Do you think that without Rubin, the world would have fallen apart? These heroes of today are going to the goats in a few months, being blamed for not taken action fast enough to avert the recession. As for Clinton, his economy agenda is, "yes, I did that." to anything and everything. If I remember correctly, wasn't he the one who were fighting the Republican tax cut plans all the way and when it was finally approved, "yep, I saved the economy and created budget surplus." Every time Clinton speak, it is always "I got to get back to work for the American People." "I got to save Social Security." "I got to ..... for the children of America." What did he do that congress wasn't doing? But my point is not really anything negative about Greenspan, Rubin nor Clinton. The infrastructure of our government is so strong that no individual is all that important. Life will still go on if Al Gore or even Dan Quayle is president tomorrow. Zeev, you can replace Greenspan and I bet you that Fed policies wouldn't change that much, though the stock market would drop 35%. To restate my point, the herd mentality requires an image to "worship" and follow. This urge to follow is even more acute during times of crisis. Japan, Indonesia, Malaysia, Korea ...... all need such leadership today. Ramsey