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Pastimes : JESUS and FINANCIAL FREEDOM

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To: yard_man who wrote (1151)	6/16/1999 2:18:00 PM
From: gregor	Read Replies (1) of 1283

Dear Barry : I hope God is blessing all the time, all the time, God is blessing. I kind of made a poor short term call on my timing to go 100% cash; i.e. interest rate swing and a short term bond market rally; but that's life. What the Lord has done since Oct has been nothing short of 'phenon'..wow !! I'm still breathless. I still look for interest rates to test highs and possibly make new ones. I came across this ...it's "spooky". According to Alan Newman, editor of Crosscurrents, NYSE margin debt has exploded to a new record high of $181.94 billion (as of April). "Margin debt is now more than 2% of total gross domestic product," writes Newman. "Adjusted for inflation, the numbers are nearly three times as high as they were at the top in 1987." As Newman correctly asserts, "the indexes can only be held up by a further expansion in borrowed money. Unfortunately, a further expansion in margin debt will only increase overall systemic risk to intolerable levels." True enough, but it is highly doubtful at this point that margin debt can be any further expanded.

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