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Pastimes : Ask Mohan about the Market
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To: Zeev Hed who wrote (15513)4/22/1998 1:59:00 PM
From: Tommaso  Read Replies (1) of 18056
 
I have my childhood stamp album at home with some of the overprinted stamps. Haven't looked at it in years.

Also somewhere I may have a dollar bill with "Hawaii" overprinted on it. That was a different situation. It was so that it would be unspendable if the Japanese captured Hawaii.

To get back to my original point, a stock market crash makes a lot of people feel poor but it's not the same as being rounded up and shot. If we are lucky, we will just get a quick readjustment of values, a lot of individual bankruptcies and reduced expectations, and better regulation of derivatives. If wage and price inflation sets in, interest rates can be raised; if deflation threatens, money can be printed. But it is too late to do anything about the extreme inflation of equity prices except to let them collapse.
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