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Politics : Ask Michael Burke

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To: BGR who wrote (48207)	2/21/1999 8:16:00 PM
From: yard_man	Read Replies (2) of 132070

BGR, the mantra leaves out corporate purchases of equities and the role of credit in fueling this boom. The market hasn't zoomed simply because we've all got to be better savers, it is the confluence of many serendiptous events and poor decisions made by our central bankers a few years ago. The mantra also leaves out larger concerns about the stock market becoming a more ubiquitous way to save for all folks and all purposes. Also there is the unprecedented willingness of both corporations and individuals to take on additional debt because of feeling richer --- i.e. there a whole host of reasons why the current strong trends could be reversed in a rather non-linear way. Just as markets have melted up -- they can melt down. Be open minded about what can happen ... it can only serve you well.

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