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Strategies & Market Trends : Trader J's Inner Circle

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Nov 26 3:59 PM EST

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To: Wes Stevens who wrote (19928)	9/2/1999 7:56:00 AM
From: Wes Stevens	Read Replies (2) of 56535

09/02 02:32 Friedman warns U.S. stock prices may be in bubble FRANKFURT, Sept 2 (Reuters) - Economist Milton Friedman on Thursday warned that U.S. stock prices could have created a bubble that posed a grave danger to the U.S. economy, he told the business daily Handelsblatt newspaper in an interview. "The U.S. stock market exhibits some of the characteristics of a bubble," the Nobel prize winner told the newspaper. "If this turns out to be true, then the United States will experience a deep collapse of the stock market. "That would be a true danger for the continuation of the unusual economic expansion of the past nine years," he added. Friedman said that the current U.S. stock market exhibited uncanny parallels to the U.S. market of the 1920s preceding the great crash in 1929, and to the Japanese market in the 1980s before the collapse there. ((Frankfurt Newsroom +49 69 756525, frankfurt.newsroom@reuters.com)) COPYRIGHT ¸ 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.

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