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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: EPS who wrote (24363)11/19/1998 6:50:00 PM
From: dwight vickers  Read Replies (2) of 42771
 
OFF TOPIC!!!!!!

Victor,

I don't think we have to worry about overhauling the world monetary system.

The cycle will "overhaul" it for us.

World Central Bank wishful thinking by "One Worlder's"?

That may be part of what will be presented as the "solution" to the coming currency and world economic debacle, much as the welfare state being shoved down our throat, was the "answer" to the depression.

I would worry that real estate will not fare well in a deflation economy. As much as it seems like RE should do well during periods of low interest rates, low interest rates are often a sign of rot in the system.

And as assets deflate, RE cannot be immune.

We are the most overbuilt home market in the history of the world. And uncorrected in much of the country. The Midwest, for instance never suffered through what happened on the coasts and in the oil patch.

Anyway, I am a big believer that steps taken to help the system stay afloat are futile in the end. They can drag things out and delay the day of reckoning, but ultimately interference will only make things worse.

Japan is a perfect example. As is the 1930's example in the U.S.

Government intervention only delays recovery. (I know, let's build more bridges!!)

These things are cyclic. The longer and more manipulated the cycle---the worse the eventual cleansing.

I remain very unoptimistic.

Dwight
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