Tulipomania Blowoff Contest: Why and When will it end? Message Board

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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end?

YHOO 52.58

0.0%

Jun 26 5:00 PM EST

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To: Dale Baker who wrote (2235)	12/26/1999 9:37:00 AM
From: yard_man	Read Replies (1) of 3543

No Dale -- I'm not wanting to see longs get killed -- you got it wrong. I hope you get out with all your winnings intact, but remember this: It is a fact -- everyone isn't going to. What I am saying is two things: 1) Many longs are so firmly ingrained with the idea that stocks always come back that they will not protect their winnings --- more importantly 2) This infatuation with stocks and espcially the policies behind it (the unparalleled expansion of credit) mean very difficult times lie ahead for many who have and haven't participated in the huge "boom." The appreciation in the dollar value of stocks is very real -- the supposed "health" of the economy is a lie. We will be paying for this supposedly wonderful period for many years to come, I think. The real culprits won't be destroyed. But to the extent that the Fed has let credit and money grow without regard for the true growth of the economy they have simply robbed you just as suredly as they broke into your house and removed your possessions. Most folks are preoccupied with their "own bottom" line and making a buck or more keenly on "spending a buck" that they don't think about the consequences. Do you really believe that the welfare of a country's citizens on the whole can improve several times faster than the real economy grows? Sure you can do better than somebody else for a while and I am not frowning on that or your profits, but I'm not stupid because I didn't buy YHOO 1 year ago if it didn't fit my tolerance for risk. I just have less money than someone who did. you obviously have a much higher risk profile than me.

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