Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: AC Flyer who wrote (14659)	2/8/2002 7:43:57 PM
From: Ilaine	Read Replies (3) of 74559

>>The world is totally different now than in 1929. In 1929 there was no FASB, no GAAP, companies reported their results however they liked. There were no controls on margin loans.<< We can hope that Enron is an anomaly, but I am holding my breath, waiting for the rest of the shoes to fall upstairs - who knows how many are in that bed? Human greed cannot be outlawed, nor stupidity, nor imagination when it comes to way to finding clever ways around rules. As for the future, the Austrians may well be right, so we shouldn't be hubristic. The problem from my perspective is that Magner has been saying the same thing since I first ran into him - roughly 8/1/98. Take a look at where the price of gold is since 8/1/98: globalfindata.com BTW, I bought at roughly $265, and my husband made me sell it (I think at $295) for the down payment on the house, and I LOST money due to the premium.

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