Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: bentway who wrote (72026)	2/6/2005 11:20:56 PM
From: Gary Walker	Read Replies (1) of 89467

Since when does a booming bubble stock market have anything to do with long term economic prosperity? Sure they help in the short run, but the harm later isn't worth the short term gains in paper value. Bubbles eventually pop, 1929, tulips, New Jersey real estate, gold in the 70's, Japanese market 1988. They have a mind of their own and when they burst, there's not much to stop the carnage. Bubbles are more about investor greed than economic cycles. Bubbles are excesses. The economy moves to equilibrium, eventually. Speculation and greed can only support stock prices so long. Eventually, there must be earnings to back up the price. The bubble burst before Bush came to office. Do you care to state otherwise? Then you restate history.

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