Allan Shumaker Wrote:
-------------------------------------------------------
> Sorry Charlie,
> I really doubt that the 'milenium scare' was the
> source of your profit. Sure there was the fear
> that everyone would wake up on January 1, 2000 to
> find the power was off because the computers
> couldn't handle the change from "99" to "00".

I actually talked to quite a few people that thought 2000 might be the end of our existence.
Why? I have no idea.


> However the real source of the free spending was
> the Fed which was pumping money into the economy
> with unrealistically low interest rates and
> running the presses overtime printing money just
> in case there was a 'run on the banks'.
>
> That easy credit policy was what caused the 'tech
> bubble' that burst in 2001. In an effort to prop
> up the economy the cheap capital policy was
> continued and the 'housing bubble' expanded. Then
> banks and credit rating agencies jumped on the
> band wagon because they could give a loan for a
> house to anyone with a low interest rate and then
> insure the mortgage with a credit default swap and
> sell a package of those loans to unsuspecting
> investors overseas. Look where that got us!
>
> Now do you really want to repeat that process?

Toss in 9/11 and the two following wars:

[costofwar.com]



Charlie Hatchett