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To: Proud_Infidel who wrote (69587)	12/7/1998 10:42:00 PM
From: mauser96	Respond to of 186894

As his remarks indicate, Mr. Greenspan knows that no one is smart enough to adjust markets to fit their conception of reality. How do you pop a bubble gradually? This is a case where the cure may turn out to be a lot worse than the disease. One can only wonder whether there would even be a secular bull if we didn't have someone of the caliber of Mr. Greenspan at the Fed. His primary concern is, by law, the economy, and he is interested in the stock market only to the extent that it effects the economy. A stock market crash sometimes doesn't hurt the economy much (1987) but nobody knows this will be the case in advance.