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Norman -
Thanks for reminding me of the fact that he helped precipitate 1987. My
mistake. Never said Greenspan was infallible, and I think he may be
messing up right now. My main argument is that if he is, it is because
he is misreading the tea leaves and not because of some ulterior motives
due to he being a puppet of the banks, or the govt. If he is a puppet,
he is a puppet of the markets.
Steve
---
Steven W. Poser, President
Poser Global Market Strategies Inc.
url: http://www.poserglobal.com
email: swp@xxxxxxxxxxxxxxx
Tel: 201-995-0845
Fax: 201-995-0846
----- Original Message -----
From: nwinski <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, December 22, 1999 6:13 PM
Subject: [RT] Re: [Treasury Bonds]
> >
>
> From:
> Steve Poser, President
> Poser Global Market Strategies
> http://www.poserglobal.com
>
>
> > "... And, Alan Greenspan will get his rightful place in history as
being
> > the man that THREE (1987, 1998 and 2000) times prevented global
financial
> > disaster and as possibly the greatest market thinker in history."
> >
> > NW: Steve, although skeptical about your theory, I was all set to
hit the delete key on your
> > posting about Greenspan and move to the next message.......until I
read the last line.
> > Greenspan may get credit for saving the financial world in 1987, but
he certainly does not
> > deserve it. 1983, fours years earlier, on Nightly Business Report,
he said that if he were
> > Fed Chairman, the year before an election, he would slow the economy
so that it could be
> > goosed in time for the election to help the incumbent win the
election. Guess what? 1987,
> > that is exactly what he did by raising interest rates over the
summer to 9%. It was only
> > after the markets crashed that he took his foot off the brake and
hit the accelerator. After
> > the crash, I wrote an editorial saying that when Greenspan leaves
the Fed he could get a job
> > as New York cab driver, one foot on the brake, one foot on the gas,
jerking you all the way.
> > So, bottom line is that Alan Greenspan may have a good track record
in the 1990s, but he
> > also is responsible for the Crash of '87, one of the worse financial
panics of the 20th
> > century. .Oh well, even Babe Ruth struck out.
>
> Happy Holidays,
>
> Norman
>
>
>
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