Greenspan062101

Your actions seem to indicate that you are too obsessed with the stock prices. In 1999-2000, the stock market was behaving like a bubble and you were correct by pointing out the "irrational exuberance." But you committed serious errors by increasing interest rates when there was no hint of inflation in 1999, apparently to punish the stock market. These actions of yours were highly irrational because altering stock market behavior is not in your domain. If you think rationally, then you notice that investors and stock market speculators are searching for the next Oracle or Microsoft or Intel or Yahoo!, which were pooh-poohed when they first came into being because no one believed then that any novice technology company could......