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Pastimes : James Cramer Skeptic Thread -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (827)	10/16/1998 7:15:00 PM
From: Skeeter Bug	Respond to of 1254

kevin, i'm not well versed in the details other than 39k was a bubble. when you have a bubble you have a long way to fall. if the nikkei went to, say, 20k instead of 39k, the economy still would be damaged but the losses wouldn't have been so great. remember MUCH MORE money must go in at the top b/c there is more to support. since more money was lost there is less to spend now. less to spend now, in conjunction with vivid memories of seeing lots of money disappear like a thief a in the night and you become ultra conservative. the fed is lowing rates out of desperation, imho. they knew some big bank had some derivatives that needed a pop and so they gave it one. market manipulation by the fed IS NOT an indicator of good things going forward, imho. did japan make mistakes all the way down? they made some. the biggest was probably trying to manipulate the market. the biggest overall mistake was setting the table on the way up when no food was going to arrive. just like we have.