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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Raymond Duray who wrote (6352)6/27/2002 1:04:53 AM
From: macavity  Read Replies (2) of 33421
 
All I was mentioning was that there are usually two parts to the bubble. I agree that the system does seem to allow the corruptive elements to persist.

1) The gullible public who want to believe, and who no matter what you tell them will still believe anything that justifies a bubble. There is no protection for these, as nothing you can say will stop someone doing something stoopid.

2) The snake-oil salesman and charlatans. This is the category that you allude to. I agree with you.

But remember
"the customer is always right";
"the public gets what the public wants"

It is impossible to prove and futile to say (as many are - not yourself) that this is simply a case of crooks and disception.
You may be correct that the body-politic and Da System is corrupt to the core, but "So What" all are.

As part of the "rest of the world" many of us knew the flaws in the system.
It is simply the lack of hubris - the fact that the US is top of the ladder and is lecturing to Europe and Japan (especially) about how to do things.
"They just do not get it!".

Y2K was identical to Japan 89.
Now the two largest economies will spend the next few years suffering from their respective post-bubble economies.

Many have said "This is nothing like Japan", they are right - it will be worse, much worse.

-macavity
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