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To: notbullnorbear who wrote (42605)	3/30/2001 6:26:10 PM
From: David Howe	Read Replies (1) of 64865

<< What will bring back liquidity is a rational cost structure >> The Dow PE stands at 20. The previous post of a dooms day scenario indicated that bear markets typically bottom out with a Dow PE of around 14. With interest rates low by historical standards, productivity high and inflation low, how is it that you think the "cost structure" is so irrational. What's so horrible that would cause the markets to completely collapse given today's market valuations? The bears (shorts) on the boards today are as fanatically bearish as many of the bulls were back in late 1999. The nutty bulls were wrong back then, and dooms day bears are wrong now. We might go to Nasdaq 1400 and Dow 7000, but we're not going to see the end of America or the end of the banking system or gold as the only safe haven, or Martians taking over the world, or whatever disaster scenario you guys have dreamt up lately. IMO, Dave

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