Allen, Jodie
June 2000
New Republic;06/05/2000, Vol. 222 Issue 23, p6
Focuses on the economic condition of the United States in the wake of the message sent by the U.S. Federal Reserve Bank to slow down operations. Views that bonds and fixed-term investments should be made more lucrative than stocks; Comments that this is the age in which people wallow in unexpected disruption in the chain of casualty and applaud the overturning of conventional logic; Views that the U.S. money market does not follow the theories of market efficiency or rational expectations; Suggestion that in postmodern market, irrational exuberance is rational; United States government is running a budget surplus which means a buyback of treasury bonds; Factors which propel the economy include the wealth effect produced by the booming economy.


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