To: dougjn who wrote (16054 ) 10/6/1998 4:28:00 PM From: marginmike Read Replies (1) | Respond to
The problem lies in the fact that you believe to much of what you read and hear. Its like when a company insists its earnings are good, but a rumor causes the stock to tank. You are choosingto hear the worst of whats being said. The Fed has predicted this gloom because it wants to scare public and Government to act so it doesnt happen. In sociology I was taught that public intrest Government agencies always overemphaisaise a problem, past its real effect. This will cause people to take it seriously. The best example of this was the AIDS epedemic. When I was in collage the contagion was completly over estimated. I being an upper middle class white Heterosexual who didnt do drugs or sleep with those types had an extremly low chance of getting Aids. I think the statistics were more in my favor to die an an airplane. I think that the chance for a male getting it was only 30% even if I had slept with someone infected. The point here is that the public thought it in my own good to scare the s--t out of me so I wouldnt even think of practising unsafe sex. Here and now the Government is trying to scare people and govenment's so they act swiftly and thouroughly. Greenspan,Rubin, and Clinton are trying to scare congress and it's constituents so they will act and fund the IMF, and Asian countries. Why else would these statements be made? In normal situation's they would try to calm, and jawbone the markets up. I read all articles on these issues, for every positive one I find there is a negative. So what. This is not 1930, its not even close, and we might head into a recession, but who cares. Unless we go int a sustained 2-3 year recession this market is overreacting. The big boys finnish thier correction and we rally end of year. (sorry if the aids Analogy offend's, it was the best one I had)
