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Politics : Ask Michael Burke
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To: Ilaine who wrote (42211)1/5/1999 12:16:00 AM
From: Alias Shrugged  Read Replies (1) of 132070
 
Hi CB.

>>> Is it possible for us to learn our lessons from history, and change our ways, and avoid disaster? I know that it doesn't look as if we will actually do that, but is it even possible that we could?>>>

Have very much enjoyed your line of questioning. I think that a bust is inevitable following a great boom (or worse, the development of a bubble). Learning from history would involve not letting booms get so far out of hand; this is why MB and others are so ticked at their buddy Alan.

Learning from history would involve letting mistakes have consequences, would involve allowing enterprises to fail (especially banks), and would involve efforts at not letting enterprises (especially banks [and hedge Funds!!!]) become too large to fail.

But we are past that point - the world is awash in capacity and folks (countries, companies and individuals) have gorged themselves on debt.

Re: Happy Girl. There are two kinds of traders/investors - the Bullet-Ridden and those who feel Bullet-Proof. The Bullet-Ridden trade more cautiously - they have witnessed the power of the market and its potential to destroy one's wealth. Right now, this market seems to be populated by hordes of the Bullet-Proof. Feeling bullet-proof and trading accordingly is the surest way to move into the bullet-ridden category.

Mike

P.S. I'd like to see AR "irriated" and apoplectic again - tell him you see CSCO easily moving to over $200 by April or May <GGG>
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