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Politics : Formerly About Applied Materials
AMAT 112.50-2.7%Jan 27 4:00 PM EST

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To: Jacob Snyder who wrote (60840)2/22/2002 8:22:08 AM
From: Katherine Derbyshire  Read Replies (3) of 70976
 
>>At the bottom, capital should not be available. Corporations should not be able to raise money (by selling stock, bonds, anything) to buildout infrastructure to serve any unproven market. <<

Maybe Alan Greenspan really is a genius?

That is, maybe by tightening interest rates when he did and then loosening them dramatically and rapidly, he managed to engineer a relatively soft landing. By doing that, he kept capital scarcity from becoming so severe that it strangled the recovery in its cradle.

Describing this as a soft landing is sort of a scary thought. But I think when the last speculative bubble of this magnitude broke they called it the Great Depression.

Katherine
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