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Politics : Ask Michael Burke

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To: Howard Henick who wrote (43723)	1/17/1999 12:16:00 PM
From: Knighty Tin	Read Replies (4) of 132070

HH, My comment was that the market continues to soar until it sucks up all real productivity. There would be no commodities produced because trading Amazon would be both easier and more rewarding. It is obviously an overstated position, but that exaggerates a trend I see developing. In today's Houston Chronicle, it was mentioned that many hog farmers are closing down due to cheap pork prices. They say they can take minimum wage jobs and make money while they can't make money raising hogs. Eventually, in this asset driven economy, pork would come into equilibrium and eventually go into shortage. What I am really saying is that asset inflation does have a huge cost and it will eventually be reflected in either a total popping of the bubble through deflation or through inflation. There is no free lunch. MB

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