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Politics : Ask Michael Burke

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To: BSGrinder who wrote (74125)	1/20/2000 2:22:00 PM
From: Freedom Fighter	Read Replies (2) of 132070

Kit, I have an observation about this kind of stuff. The fact that the market keeps rewarding capital gains on stock investments, accounting gimmicks, spin, leveraging the balance sheet to buy back shares, forward looking optimism that rarely comes through etc... is an indication that we are experiencing a bubble. It has nothing to do with "new era" productivity, inflation, economic growth, interest rates or any other fundamentals. Those things are the rationalizations of people who stand to benefit from the bubble or get hurt by its demise. I can find no clearer evidence that the system is out of control than observing what is being rewarded by investors. That's the newest thing about this era. The level of insanity. That the Fed still talks out of both sides of its mouth when it's this obvious is an indication of brain damage. (g) Wayne

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