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Politics : Ask Michael Burke

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To: wlheatmoon who wrote (44005)	1/20/1999 12:56:00 PM
From: Mike M2	Read Replies (2) of 132070

Mike, there is a great deal of leverage in the current bubble: yen carry trade; gold-carry trade; derivatives; asset back securities. Look at the leverage used by LTCM . The only things new about this new era is the greed and stupidity of the public ; the recklessness of the Fed; new extremes to aggressive accounting; an extensive effort by certain parties ( IMO) to keep the bubble alive. Someday I hope to find the time for a more detailed reply to the new era hype. The bigger the boom the bigger the bust. Forever bearish Mike BTW I'm not short at the moment I'm waiting for a loss of momentum perhaps you can call me chicken.-g-

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