Here is the link:

Greenspan and the Bubble Economy: Y2K's Legacy of Credit Expansion

Ray

-- Ray (ray@totacc.com), January 14, 2000

Answers

Thanks Ray, Great perspective on this boom. Loved this quote:

"The irony is that a man who, early in his career, preached the gospel of Adam Smith according to Ayn Rand should today be lionised for his matchless skill at fixing a particular interest rate. The misconception is that any one individual can control the destiny of the world's largest economy by such an improbable method." . . .

Greenspan, being mortal, is incapable of doing what his legion of fans credit him with already having done, the newspaper said. . . .

Governments through the ages have tried to fix prices. In general, they have botched the job...

Its the economy that dictates the popularity of our President and Fed Chairman, its not these guys directing the economy. Economic cycles are bigger than any one man or any one President. By accepting another term Greenspan just committed his biggest faux pas. You watch- same Fed Chairman, same policy, but this biggest boom ever will bust with a vengance.

-- Downstreamer (downstream@bigfoot.com), January 14, 2000.

I STRONGLY suspect that what Billy REALLY said when he asked Al to keep things going was "Aren't you one of my REALLY CLOSE friends, Al??"

a question which, in light of the terminal nature of THAT malady, strikes fear into the hearts of almost all who hear it....

-- like my addiction to breathing (not@friend.o.billyj), January 14, 2000.