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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 247.35+0.4%Jan 9 9:30 AM EST
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To: Victor Lazlo who wrote (122031)3/29/2001 2:10:16 AM
From: GST  Read Replies (1) of 164684
 
"But if saving for a rainy day means living in a declining economy that indefinately lends the benefits of hard work to another country" Don't forget where the Japanese tripped -- they bought into a stock market and real estate bubble. In their bubble years they shifted their net worth from savings "on the sidelines" and moved agressively into stock and real estate equity just like we shifted into equities. Our bubble burst before real estate had a chance to go into orbit -- although some markets were no doubt getting pricey. Asset price bubbles are nasty things. We just had one and with a little common sense we are going to be ok. But there is a lesson here -- we need to develop financial balance and a more realistic perspective on valuations. Save every last cent? No way. But save some and don't put blind faith in assets "at any price" no matter what the market. When assets are overvalued, turn to more and more to cash. Don't believe you are "missing out" if you hold some cash in savings at all times. There are warning signs that our economy is too far out of balance -- warnings that are being signaled just as loudly as the bubble in stocks was signaled. And the sign says "learn how to save money -- it can come in handy and it is good for the economy".
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