<ul> ~ Hamilton auf Gold Eagle</ul>
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Hi Black Elk,

ein exzellenter Beitrag und dies der entscheidende Passus:

The hyper-important part of this graph begins at the white arrow. Notice that the
"risk-free" 3 month US Treasury bill yield began to plunge well before Greenspan and
his band of merry marauders decided to bailout the over-extended technology
speculators. Interestingly, this macro turn began in late November 2000, which was
actually before the December FOMC meeting where the Fed threw its engines into full
reverse and dropped its inflationary bias for an economic weakness bias. You probably
recall the mega equity rally in mid-December on the news the Fed thought the economy
was deteriorating and might have to begin cutting rates. Only in the surreal world of Wall
Street is bad news considered good if it might lead to a fabled rate cut!

Damit wird just das belegt, was ich versucht hatte, eben zu erklären: Die ZB reagiert, von einer"souveränen" (= selbständigen) Geldpolitik kann keine Rede sein.

Gruß und Dank

d.


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Klasse, blak elk! S. auch meinen Beitrag im Abo vom 03.05.:

http://www.elliott-waves.de/abo/010503-bip.htm


>Hi Black Elk,
>ein exzellenter Beitrag und dies der entscheidende Passus:
>The hyper-important part of this graph begins at the white arrow. Notice that the
>"risk-free" 3 month US Treasury bill yield began to plunge well before Greenspan and
> his band of merry marauders decided to bailout the over-extended technology
> speculators. Interestingly, this macro turn began in late November 2000, which was
> actually before the December FOMC meeting where the Fed threw its engines into full
> reverse and dropped its inflationary bias for an economic weakness bias. You probably
> recall the mega equity rally in mid-December on the news the Fed thought the economy
> was deteriorating and might have to begin cutting rates. Only in the surreal world of Wall
> Street is bad news considered good if it might lead to a fabled rate cut!
>Damit wird just das belegt, was ich versucht hatte, eben zu erklären: Die ZB reagiert, von einer"souveränen" (= selbständigen) Geldpolitik kann keine Rede sein.
>Gruß und Dank
>d.


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