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Politics : Ask Michael Burke

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To: Edward F. Horst Jr. who wrote (20697)	7/20/1997 11:52:00 AM
From: Knighty Tin	of 132070

Edward, The real question is, are things as wonderful as we have been led to believe, as very few are talking about gloom or downside any more. You have to ask yourself certain questions about our Goldilocks economy and markets: Why, if things are so great and we are leading the world in innovation, do we still have such a huge trade deficit? Why do we have an all-time high in pe ratios and an all-time low in dividend yields when we are nowhere close to all-time highs in economic growth or a low in interest rates? And why do we such a warped relationship of stock prices to GDP? The simplistic answer is the one you hit on. Too much ignorant money chasing anything that moves. The sad fact longer term is that ignorant folk and their money don't hang around forever. So, you are predicting a Goldilocks scenario forever. I will stick with the idea that Cinderella is more likely to be the appropriate kiddie's story and the only question is when does the clock strike 12? Coachmen become mice, carriages pumpkins, princesses chargirls, and princes say "ribbit." -g- Good Luck, MB

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