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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Ahda who wrote (35861)	6/24/1999 10:23:00 PM
From: Mark Bartlett	Read Replies (1) of 116786

Darleen, <<I disagree with you Mark Japan produced goods more efficiently than we did. We consumed them, in some cases they were better than ours and made us think twice......>> You are right on both counts ... they produced more efficiently and they were (and still are in many cases) better. Hence I drive Japanese cars. Notwithstanding that, they created a system that became way over-leveraged, especially in real estate. I think at one point Tokyo was worth more than the state of California ..... it was clearly unsustainable - there was no way that enough revenues could be generated to pay back those loans. As far as the US goes, we clearly have another asset bubble ..... the Japanese want to lower their yen to compete and the US does not want their US dollar to go too low, because of its likley effect on the asset bubble ..... a great combo! <<What happens to all the people who are margined or in credit up to the hilt in the market whosh payback is gone. >> Indeed - what will happen to many of us! MB

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