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To: limtex who wrote (16173)	10/8/1998 11:46:00 AM
From: Joe NYC	Read Replies (2) \| Respond to of 152472

limtex, low interest rates worked in 1987 but then you didn't had people at the Fed who saw what was coming and acted fast. BTW, Greenspan is the same guy who was the chairman of the Fed in 1987. Mr Greenspan is a total disaster as many people whose retirement is now a sick dream are beginning to realize. If you look at the performance of the stock market during Greenspan's entire tenure, you will probably had the highest returns on equities. You are basing your opinion about Greenspan on the performance of the stock market over last 1 year. Further, you are assuming that Dow over 9,000 or Nasdaq at it's high was the correct valuation, rather than an aberration. AG correctly warned investors about the dangerous valuations of the market. The danger of stocks rising to irrationally high levels is the that you will have a dangerous swing to irrationally low levels, and it is all happening. But anyway, you didn't give me your odds on likelihood that Feds "action" will stabilize the markets rather than destabilize. Joe