> Enrique Diaz-Alvarez wrote:
>
> >Why? I mean, why now? How's a 390 PE any crazier than 200 or 100, or any
> >saner than, say, 1000? Do you think American households' credit lines
> >are about to be tapped out?
>
> "Rate rise likely as Greenspan issues stern warning."
> - headline in today's Financial Times
Yeah, right. Al is a little man in a little suit shaking on a corner terrified of the enormous monster he has created. Assuming he's smart enough to recognize it is a monster, which I still doubt.
Why would paying 8, 9 or 12% on your home equity credit line make a difference when the NASDAQ returns 40% on a bad year?
-- Enrique Diaz-Alvarez Office # (607) 255 5034 Electrical Engineering Home # (607) 272 4808 112 Phillips Hall Fax # (607) 255 4565 Cornell University mailto:enrique at ee.cornell.edu Ithaca, NY 14853 http://peta.ee.cornell.edu/~enrique