am not sure who we want out. the republicans have much more to gain by this downslide. if the market had stayed up and there were still large profits being made the democrats would have the election locked. the only reason bush has a chance is the collapse of the economy.
i am not trying to be arguementive, just throwing out ideas.
CMGI is tanking for one reason, and one reason only ... Alan Greenspan decided the new economy tech growth stocks were witches brew or something and set out to drive investment funds back to his buddies in the smokestack industries. This has nothing to do with the quality of CMGI or the wishes of investors.
In my opinion, Bill Clinton and his democratic party put Greenspan in office for another term because he takes care of their old economy political buddies. You will soon see the effects of the NASDAQ crash they've all triggered. You, or your neighbor, or your friends and family, will be out of jobs and have to take a low paying temp job with no benefits in some old economy industry. I say remember who caused this when you step into the voting booth this fall.
I'll go one step further and say Congress should have more control over the Fed. Should one egomaniac have control over the world economy? Clearly, thousands or millions of investors were voting for CMGI and the new economy it represents. They were voting for it with their investment dollars. Then along comes Mr. Greenspan who decides to go against the will of all these investors and trashes the tech stocks. You can do your homework all day and pick great stocks but it means nothing if Mr. Greenspan didn't pick them too.
How's that for throwing out ideas (and throwing the bums out of Washington)?
is mostly an accurate assessment. However, always having been a value stock investor based on earnings and reasonable P/E's the crash in these new market stocks was inevitable with or without big Al's help IMHO.
The part of your message that I would like to draw attention to is the emphasis on the amount of power that certain people and offices have to push the bond and stock markets in any direction they choose whether or not the reasons are personal gain, political favor, or for the good of the US economy. Many shortterm decisions that are announced are made for the benefit of those in these positions. That is why it is important for investors not pay too much attention to the day to day noise and to try to pick up the trends such as interest rates, nasdac, etc.
Many politicians go into office poor and come out rich. I doubt that they come out rich because of their superior saving habits.
Just one example: If Bill Clinton had to pay income taxes on all of the personal legal fees that someone else has paid for him since he has been in office it would make for an interesting amount.
I may be wrong, but I have visions in my head of lobyists with atache cases full of cash targeting politicians on certain issues where they need votes for their clients. Politics is and has been corrupt since the beginning of time and it ain't likely to improve any time soon.
In such an investment environment where nothing rational or logical happens it is tough to make a buck when an investor thinks rationally when placing his/her bets in the market. Now if you throw in investor greed, that makes it impossible to make a dollar!