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Politics : Ask Michael Burke
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To: epicure who wrote (90222)3/12/2001 5:20:05 PM
From: benwood  Read Replies (1) of 132070
 
I don't even think we've reach dispair, let alone capitulation. One relative wrings his hands when he sees me and says he wonders when his 401K will stop going one step forward and two steps backwards. I think it's possible we'll see capitulation this week, but more likely in about three weeks. Perhaps a few more surprise cuts will delay the reaper a bit. Maybe tomorrow there will be a surprise cut in the morning, and another surprise cut in the afternoon.

Over the last few years, I talked to quite a few people about the bubble, but frankly, people like one friend who made her first investment ever ($5k in RealNetworks, worth $60k when I talked with her) just figured I was loony bin material. Eventually there was no one to talk to but folks here and my brother, who also understood. It never helped matters that the idiot in charge of monetary policy kept saying, "What bubble?" as the NAZ shot from 4000 to 5000 in the blink of an eye.

BTW, that +86% year of 1999 in the NAZ has now evaporated.
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