From the Washington Post this morning Alan Greespan is paraphrased as saying:

Greenspan Sounds A Warning

"Jackson Hole, Wyo., Aug 27--Federal Reserve Chairman Alan Greenspan said today that the rising value of U.S. assets such as stocks and homes has created a new vulnerability to large, abrupt declines in asset prices that could hurt the American Economy."

"Greenspan, speaking here at the annual policy conference of the Kansas City Federal Reserve Bank, said economists don't know how to predict - much less head off - the type of sudden loss of confidence by investors that can cause such a sharp asset price decline."

Right from the mouth, people.

Food, Food and more Food. Supplies, Cash and bring along a few prayers for good measure...

Father

-- Thomas G. Hale (hale.tg@att.net), August 28, 1999

Answers

Forgot to mention.

Just bought a new house. We went to closing last meek and the property has already appreciated 20K. Heck, I'm not even moved in.

What do you make of them apples?

Yet, something wicked this way comes...And your guess is probably better than Greenspan's.

Father

-- Thomas G. Hale (hale.tg@att.net), August 28, 1999.

With Greenspan, I think it's important to remember that old cliche, "watch what they do not what they say".

Remember his historic remark about the stock market a few years ago "Irrational Exhuberance" he then went ahead and created the fuel to allow the market to almos double.

Ray

-- Ray (ray@totacc.com), August 28, 1999.