This commentary deals more with the nature of the efficiency of market investment.
whenever it was 2001 through 2004? that greenspan kept the interest rate near zero, i heard an economics commenter on the BBC worldwide service state that after the dotcom bubble had burst greenspan had “reinflated the bubble” by lowering interest rates and it was anyone’s guess as to how long it would be before the bubble burst again.
it seems impossible to answer your question in the affirmative as it appears to me that markets direct capital not to where it is most needed, but to where it will be most likely to gain the greatest short term profit.
such as warren buffet’s recent investments in goldman sachs and general electric;
based on his belief that the 700 billion dollar bailout would be passed.
Buffett probably got a good deal, even in the absence of the bailout. You’re right about Greenspan.
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